Ministries slash fuel prices

Thursday, Aug 11, 2022 17:35

A driver gets her motorbike refilled at a petroll station. — Photo

The ministries of Finance, and Industry and Trade slashed fuel prices on Thursday.

E5 RON92 decreased by VND900 to VND23,720 per litre, whereas RON95 fell by VND940 to VND24,660 per litre. Diesel followed suit with a cut of VND1,000 to hit VND22,900 per litre. Kerosene went down by VND1,210 to VND23,320 per litre. Mazut remained unchanged, at VND16,540 per kilo.

After the adjustment, the price of RON95 was VND8,210 less than that in late June. The same goes for RON92 and diesel with price gaps of VND7,580 and VND7,110 respectively. That means fuel prices have returned to the pre-Russia-Ukraine-conflict levels.

The authorities also announced they set aside VND700 per litre from RON92, VND750 per litre from RON95, VND350 per litre from diesel, VND650 per litre from kerosene and VND716 per kilo from mazut to finance the Price Stabilisation Fund.

On August 8, the Government cut most-favoured-nation tariffs on imported petrol to 10 per cent to cool fuel prices. — VNS

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