Petrol prices see steep fall on November 6
The retail prices of petrol fell sharply from 3pm on November 6 following the latest adjustments by the Ministry of Finance and the Ministry of Industry and Trade.
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Accordingly, the price of E5 RON 92 declined VND1,082 to trade at a maximum of VND19,600 per litre, and RON95 dropped VND1,138 in its price to a maximum of VND21,065 per litre. Meanwhile, the price of diesel 0.05S went down VND67 per litre to VND18,644.
The prices of kerosene and mazut 180CST 3.5S remain unchanged and should not be higher than VND17,086 and VND15,694 per litre, respectively.
The Ministry of Industry said that RON 92 was sold at an average of US$78.7 per barrel globally half month ago, down nearly US$9 from the previous period. Those of RON95 and diesel 0.06S were US$80.52 per barrel and US$92.27 per barrel, respectively.
The price of Ethanol E100, which is used as the basis to calculate the price of biofuel E5 RON 92 after the elimination of petrol RON 92, stood at VND14,737 per litre (excluding value added tax).
The petrol price stabilisation fund has been used frequently throughout the past, particularly for petrol products, in order to mitigate the impacts of the global rising commercial oil and petrol prices and contribute to curbing inflation.
This time, subsidies for E5 RON 92 are VND700 per litre (previously VND1,213 per litre) and RON 95 is VND0 per litre (previously VND600 per litre), while diesel is VND0 per litre (previously VND634 per litre).
A review of fuel prices are set to be announced every 15 days to keep up with changes in the global market.
