The regulatory agencies – the Ministry of Industry and Trade and the Ministry of Finance - decided to raise prices by VND310/litre for petrol E5 RON 92 and by VND270/litre for petrol RON 95.

After the adjustment, the retail prices are VND19,770/litre for E5 RON 92 and VND20,360/litre for RON 95.

Similarly, diesel and other fuels also saw price increases in this adjustment period. Diesel rose by VND450/litre to VND18,350/litre; kerosene increased by VND410/litre to VND18,220/litre; and mazut oil went up by VND150/kg to VND15,260/kg.

The authorities maintained no deductions or payouts from the fuel price stabilization fund.

Domestic fuel prices have increased for two consecutive adjustment rounds. In the most recent previous adjustment on August 21, petrol prices climbed by VND110–210/litre, while diesel prices decreased by VND170/litre.

According to the regulatory agencies, the global oil market during the adjustment period (August 21–27) was influenced mainly by the US increasing tariffs on goods imported from India; a sharper-than-expected drop in US crude oil inventories; and the ongoing military conflict between Russia and Ukraine.

These factors caused fluctuations in global fuel prices in recent days, varying by product.

Since the beginning of the year, domestic fuel prices have been adjusted 34 times, including 13 decreases, 15 increases, and 6 mixed changes.

Domestic petrol prices drop on global downward trajectory

VOV.VN - The Ministry of Finance and the Ministry of Industry and Trade have announced a downward adjustment to petrol and oil prices, bringing petrol prices to below VND20,000 per litre from 3 p.m. on August 14.