Petrol prices drop by over VND700 per litre

Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene were also slashed by VND609 and VND657 per litre, respectively.

Under the joint decision, RON 92 and E5 petrol is sold at no more than VND17,314 (US$0.76) and VND17,099 (US$0.75) per litre respectively, while the new ceiling price of diesel 0.05S and kerosene are VND13,838 (US$0.61) and VND12,177 (US$0.53) per litre. 

The average global price of petrol products during the last 15 days to March 21 was down US$4 compared with previous price adjustment, hence the reduction in the domestic prices.

The adjustment marks the second decrease in fuel prices this year.

The prices of petrol and oil are adjusted every 15 days by the two ministries depending on changes in the world market.