Illustrative image (Source: VNA)
The Ministry of Industry and Trade and the Ministry of Finance co-review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market.
According to a joint announcement of the two ministries on August 22, the ceiling prices for E5 RON92 and RON95-III are maintained at VND19,611 per litre and VND21,177 per litre, respectively.
Meanwhile, the ceiling price for diesel oil 0.05S stands at VND17,686 per litre, up VND148 per litre; for kerosene, VND16,263 per litre, down VND116 per litre; and FO oil, VND14,743 per litre, down VND270 per litre.
The global price for RON92, which is the base for the production of E5 petrol, stood at US$81.785 per barrel in the 15-day period prior to August 22, up US$0.234.
RON95 was sold at US$84.332 per barrel, up US$0.77. The price of diesel 0.05S also went up to US$86.297 per barrel, while those of kerosene and FO 180CST 3.5S dropped, prompting the two ministries’ adjustment.
The petrol price stabilisation fund has been used constantly over the past time to mitigate the impacts of rising global prices and contribute to curbing inflation.
This time, subsidies for E5 RON92 are VND1,272 per litre (previously VND1,194 per litre) and VND697 per litre for RON95 (previously VND554 per litre). The price of FO oil receives no subsidy.