Retail prices of RON 92 and E5 petrol dropped by VND112 and VNĐ105 per litre, respectively, at 4:55pm on Thursday following five straight instances of a price hike from July 20. — Photo viettimes.vn

Retail prices of RON 92 and E5 petrol dropped by VND112 and VND105 per litre, respectively, at 4:55pm on Thursday, according to a joint decision of the ministries of industry and trade, and finance.

This is the first decrease following five straight instances of a price hike from July 20.

Since early this year, domestic retail petrol prices have experienced seven hikes and eight drops. Meanwhile, the prices of diesel and kerosene rose by VND147 and VND318 per litre, respectively.

Following the decrease, the maximum price of RON 92 is VND17,999 (79 US cent) per litre, while that of E5 is VND17,731 per litre. Diesel 0,05S is VND14,588 per litre and kerosene is VND13,433 per litre.

The ministries also decided to maintain the amount of money set aside for the fund for petrol price stabilisation, as well as the fund’s spending.

They reported that average world petrol prices in the past 15 days were $67.049 per barrel of RON 92, a slight decrease of $0.5 per barrel; $68.949 per barrel of diesel 0,05S, a rise of nearly $1 per barrel; and $69.088 per barrel of kerosene, up nearly $2 per barrel. Meanwhile, pre-tax price of ethanol E100 is VND13,763 per litre. — VNS