The domestic retail price of petroleum has been reduced by VND136 to touch VND18,003 (80 US cents) per litre from 3pm today. — Photo nguoiduatin

HA NOI (Biz Hub) — The domestic retail price of petroleum has been reduced by VND136 to touch VND18,003 (80 US cents) per litre from 3pm today, the industry and trade ministry said.

The price of E5 RON 92 biofuel has also fallen by VND26 to touch VND17,618 (78 cents) per litre. However, the diesel price has been increased by VND222 to reach VND13,945 (61 cents) per litre. The price of kerosene has risen by VND279 per litre to end at VND13,004 (57 cents), while that of mazut has increased by VND445 per kilogram to reach VND9,887 (43 cents) per kilogram.

The ministry said the prices have been revised 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 $45 to $50 a barrel and fell again.

This is the 14th revision of the petrol price this year.

On October 3, the petrol price was increased by VND189 per litre to touch VND18,139 (80 cents). — VNS