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Monday, June 24, 2024

Domestic fuel prices plunge

The Saigon Times

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HCMC – Local retail fuel prices were revised down sharply today, November 25, after having soared five consecutive times, according to an announcement jointly issued by the Industry and Trade and Finance ministries.

The bio-fuel E5 RON92 price dropped by VND752 per liter to VND22,917, while RON95 petrol is now priced at VND23,902 per liter, down over VND1,000.

Diesel oil and kerosene now sell at VND18,382 and VND17,197 per liter, respectively, down VND334 and VND440 per liter, while the current price of heavy fuel oil is VND16,477 per kilogram, down VND344.

During this fuel price adjustment, the two ministries decided not to charge buyers of bio-fuel E5 RON92 to replenish the national fuel price stabilization fund. The extraction level for each liter or kilogram of RON95 petrol, diesel oil, kerosene and heavy fuel oil sold is VND300, VND150, VND300 and VND500, respectively.

Local fuel traders were allowed to tap the fund at VND300 for each liter of bio-fuel E5 RON92 sold to customers. RON95 petrol, diesel oil, kerosene and heavy fuel oil are not entitled to this fund for the adjustment.

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