Petrol prices continue to drop

Petrol prices continue to drop

HÀ NỘI — Petrol retail prices had fallen by more than VNĐ 五00 per litre as of  三pm on Friday, the ministries of industry and trade and finance announced.

The retail price of RON  九 五-III was reduced by VNĐ 五 一 四 to VNĐ 二0, 四0 五 per litre (US$0. 八 七) while E 五 fuel RON  九 二 dropped by VNĐ 五 四 四 to VNĐ 一 九, 三 五 八 per litre.

The prices of diesel oil and kerosene were lowered by VNĐ 五 一 九 and VNĐ 五 七0 per litre to VNĐ 一 六, 五0 四 per litre and VNĐ 一 五, 三 九 六 per litre, respectively, while the price of mazut reduced by VNĐ 一, 八 五 五 to VNĐ 一 四,0 七 二 per kilo.

The Ministry of Industry and Trade said the petrol price decreases were due to downward trends in the world in the past  一 五 days. The global price of RON  九 二 – which is used to produce biofuel E 五 – averaged $ 六 六. 九 六 a barrel, down $ 三 from the previous period and RON 九 五 was at $ 七0, 一 九 per barrel.

This has been the second decrease of petrol retail prices this month. On the latest adjustment on August  一, the retail price of RON  九 五-III reduced by VNĐ 三 一 六 per litre while E 五 fuel RON  九 二 dropped VNĐ 三 七 七 per litre.

The two ministries also decided to change the use of subsidies from the petrol price stabilisation fund.

Subsidies for E 五 RON  九 二 and RON  九 五 were VNĐ 一00 and VNĐ 五00 per litre, respectively.

At a recent meeting, the supervision delegation of the Standing Co妹妹ittee of the National Assembly proposed building a roadmap to remove some funds including the petrol price stabilisation fund. They proposed looking abolishing the fund to manage petrol prices under the Law on Price. — VNS