Petrol prices record slight decline after four consecutive hikes
VOV.VN - The retail prices of petrol and oil witnessed a reduction as of 3 p.m. on November 21, with these changes coming following the latest price adjustments which were jointly carried out by the Ministry of Industry and Trade and the Ministry of Finance.
The latest changes therefore saw the price of E5 RON92 biofuel fall by VND40 to a maximum of VND22,670 per litre, while the price of RON95-III decreased by VND80 to VND23,780 per litre.
Elsewhere, the prices of diesel 0.05S and kerosene were capped at VND24,800 per litre and VND24,640 per litre, thereby marking declines of VND182 and VND107 per litre, respectively.
However, the price of mazut increased by VND25 to VND14,780 per kilogram.
Furthermore, the two ministries also decided to keep the use of subsidies from the petrol price stabilisation fund unchanged. As a result, subsidies for E5 RON 92 are VND250 per litre, while those for RON95, diesel, and mazut are VND200 and VND300 per litre and VND300 per kilogram, respectively.
This marks the first decline following four consecutive price hikes.
This year has seen petrol prices undergo a total of 31 price adjustments, with 17 increases and 13 drops, whilst on one occasion prices remained unchanged.
