The domestic retail price of petroleum fell by VND604 to touch VND14,699 per litre on August 4, the Ministry of Industry and Trade (MOIT) said. — Photo vnexpress.net

HA NOI (Biz Hub) — The domestic retail price of petroleum fell by VND604 to touch VND14,699 per litre on August 4, the Ministry of Industry and Trade (MOIT) said.

The price of E5 RON 92 biofuel also dipped by VND593 to VND14,250 per litre. The prices of diesel and kerosene were also reduced by VND639 and VND371 per litre to VND11,661 and VND10,296 per litre respectively. The price of mazut went down VND378 to VND8,623 per kilogramme.

The MOIT and the Ministry of Finance (MoF) also decided to keep the use of the price stabilisation fund for petroleum unchanged.

In the latest adjustment on July 5, the prices of petroleum fell by VND665 to VND15,303 per litre, while that of E5 RON 92 biofuel also fell by VND604 to VND14,843 per litre. The prices of diesel, kerosene and mazut remained unchanged.

Over the past 15 days, the price of petroleum in the world market has seen a downward trend to US$46-47 a barrel, which was much lower than that of the previous fortnight at $50.141 a barrel.

The petroleum was even reduced to $44.78 a barrel on July 29^th – the lowest level since March 2016.

The price of kerosene was also lowered to $47.67 a barrel in Singapore. Those of diesel and mazut were $47.43 a barrel and $212.76 per tonne. — VNS