Ministry announces petrol price cut
The domestic retail price of petroleum was reduced by VND136, bringing it to VND18,003 (80 US cents) per litre as of 3pm on October 19, the Ministry of Industry and Trade said.
The price of E5 RON 92 biofuel has also fallen by VND26 to VND17,618 (78 cents) per litre. However, the diesel price increased by VND222 to VND13,945 (61 cents) per litre.
The price of kerosene also rose by VND279 per litre, bringing it to VND13,004 (57 cents), while the price of mazut has increased by VND445 per kilogram to VND9,887 (43 cents) per kilogram.
The ministry said the prices have been reassessed because the base price was lower than the selling price. It also decided to keep the stabilisation fund stable at VND300 per litre.
The global petroleum price has been falling over the past two weeks with unpredictable changes. The petrol price in the world market surged from US$45 to US$50 a barrel and fell again.
This is the 14th revision of the petrol price this year.
The price of kerosene also rose by VND279 per litre, bringing it to VND13,004 (57 cents), while the price of mazut has increased by VND445 per kilogram to VND9,887 (43 cents) per kilogram.
The ministry said the prices have been reassessed because the base price was lower than the selling price. It also decided to keep the stabilisation fund stable at VND300 per litre.
The global petroleum price has been falling over the past two weeks with unpredictable changes. The petrol price in the world market surged from US$45 to US$50 a barrel and fell again.
This is the 14th revision of the petrol price this year.