The  prices of diesel and mazut are cut but petrol prices remain unchanged inlocal market on April 1.— Photo Nhanh.net.vn

HA NOI (Biz Hub) — The ministries of Finance and Industry and Trade have asked the local petrol distributors to reduce the prices of diesel and mazut.

A press release said that the price cuts would be between VND121 and 239, or between US$0.005 and $0.011, per litre from April 1.

The Viet Nam National Petroleum Group, which has the largest share of the diesel market, now sells the fuel at VND22,600, or $1.076, per litre, which is VND240 lower that the previous price. Kerosene now sells at VND22,480, or $1.070. A kilogram of mazut is selling at VND18,760, or $0.89, which is VND130, or $0.006, lower than the previous price.

Meanwhile, the petrol prices remain unchanged. On April 1 morning, Ron 92 was being sold at VND24,690, or $1.175, and Ron 95 at VND25,190, or $1.199. According to the press release, wholesale petrol enterprises are being allowed to add VND150, or $0.007, to their current profit of VND150, per litre.

The two ministries said the decision to cut fuel prices was based on the global prices and is in accordance with the principles defined in Decree 84 on petrol and oil trading.—VNS