The price of biofuel E5 RON92 fell by VND577 to VND19,268 per litre from January 30. — Photo baodautu.vn

The retail prices of petrol witnessed a strong reduction as from 3pm on January 30.

Specifically, the price of biofuel E5 RON92 fell by VND577 to VND19,268 per litre, and that of RON95 petrol also plunged by VND791 to VND20,122 per litre.

Meanwhile, the prices of diesel 0.05S and kerosene were capped at VND16,136 and VND15,062 per litre, down VND412 and VND473 per litre, respectively.

The price of fuel oil fell by VND265 to VND12,444 per litre.

To set these prices, the ministries of Industry and Trade and Finance have used the Price Stabilisation Fund for E5RON92 gasoline at VND100 per litre, RON95 petrol and diesel oil at VND500, kerosene at VND400 and mazut oil at VND200.

The ministries still maintained the price gap between biofuel E5RON92 and mineral gasoline RON95 to encourage the use of biofuel to protect the environment. — VNS