The retail price of RON 92 petrol has been reduced by VND816 to touch VND19,304 (88 cents) per litre from 3pm today. — Photo baodatviet

HA NOI (Biz Hub) — The retail price of RON 92 petrol has been reduced by VND816 to touch VND19,304 (88 cents) per litre from 3pm today, the industry and trade ministry said (MOIT).

The price of the E5 RON 92 biofuel has also been reduced by VND816 to reach VND18,809 (86 cents) per litre, while the price of diesel has come down by VND819 to touch VND13,862 (63 cents) per litre.

The price of kerosene has been reduced by VND638 per litre to touch VND13,112 (60 cents), while that of mazut has been reduced by VND563 per kilo to reach VND10,872 (49 cents).

Under a joint decision of the MOIT and the finance ministry, the petrol price stabilisation fund remained unchanged.

Statistics from the MOIT show that petrol prices have been increased four times and reduced three times so far this year. This is the fifth reduction in petrol prices this year. The highest increase was on May 5, with a surge of VND1,950 per litre. The price of RON 92 petrol was increased by VND5,040 per litre in comparison with the last hike in 2014. After five reductions, the petrol price was reduced by VND3,600 per litre.

The department of customs said in the first half of the year, the country imported 1.4 million tonnes of petrol, worth US$875 million or $629 per tonne. —  VNS