Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene decreased VND133 and VND99 per litre, respectively.
It was the third fuel price hike after four consecutive falls in recent times, with a total increase of nearly VND1,600 (US$0.072) per litre.
It also marked the 18 th adjustment this year, with eight increases, totally by VND4,300 (US$0.193) per litre; eight falls, totally by VND4,463 (US$0.2) per litre; and two times unchanged.
Under the joint decision, RON 92 and E5 are sold at no more than VND16,232 (US$0.73) and VND15,981 (US$0.72) per litre, while the ceiling prices of diesel and kerosene are VND12,255 (US$0.55) and VND10,886 (US$0.49) per litre.
The ministries said the global price of fuel during the last 15 days to September 20 was US$55.547 per barrel, up US$0.8 per barrel, while that of diesel 0.05S was US$54.694 per barrel, dropping by approximately US$1 per barrel.
The two ministries also decided to keep retailers’ contribution to the Petroleum Price Stabilisation Fund unchanged and give them a subsidy of VND300 per litre for RON 92 and E5 from the fund.