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| The price of petrol has reduced by nearly VND1,480 per litre in comparison with last year. — Photo Quy Doan |
HA NOI (Biz Hub) — Retail prices of petrol were slashed at 3pm on December 18, following orders from the ministries of industry and trade and finance.
This is the 11th reduction in the petrol price and is expected to be the final adjustment this year.
The orders said the prices of Ron 92 petrol and E5 biofuel would be reduced by VND391 per litre to touch their ceiling prices of VND16,405 (US$0.7) and VND15,910 per litre, respectively.
Meanwhile, the prices of 0,05S diesel, kerosene and 3,5S mazut have been decreased by VND1,246 per litre, VND1,136 per litre and VND942 per kg to touch their ceiling prices of VND11,984, VND11,065 and VND8,162, respectively.
The two ministries said from December 3 to 17, a period during which the authorities calculated the global base price for fuel dealers, the price of Ron 92 was at US$53.29 a barrel, down more than $1.7, compared with the previous cycle. Meanwhile, the prices of kerosene and mazut were respectively reduced by $7.3 and more than $10 per barrel.
The petrol price was increased six times this year. — VNS