Fuel prices decreased by more than VND3,000 (US$0.13) per litre on July 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

The price of RON95 fell by VND3,088 to VND29,675 per litre, whereas E5RON92 bio-fuel dropped by VND3,103 to VND27,788 per litre.

The prices of diesel DO 0.05s-II and kerosene were slashed by VND3,022 and VND2,008 to VND26,593 and VND26,345 per litre, respectively.

This was the first significant reduction in petrol prices after a series of hikes over the past months.

On July 8, the National Assembly Standing Committee issued Resolution 0/2022/UBTVQH15 at the Government’s request to reduce the environmental tax on petrol, oil and grease, helping curb the rises in domestic fuel prices. — VNS