The domestic retail prices of RON 92 petrol and bio-fuel E5 dropped VND435 and VND431 per litre, from 5pm on Wednesday.

Prices of diesel 0.05S, kerosene and mazut, meanwhile, rose by VND122, VND285 and VND110 per litre, respectively, following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance.

Under the joint decision by the ministries, RON 92 and E5 petrol is sold at a maximum prices of VND16,069 (71 US cents) and VND15,918 VND (70 US cents) per litre respectively, while the new ceiling price of diesel 0.05S and kerosene are VND12,957 (57 US cents) and VND11,665 (51 US cents) per litre. The new price of mazut is VND10,776 (47 US cents).

The average global price of RON 92 during the last 15 days until July 5 was nearly $55.96 per barrel, down $2.16 compared with the previous price adjustment.

The prices of petrol and oil are adjusted every 15 days by the two ministries depending on the changes in the world market. — VNS