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Sunday, June 23, 2024

Fuel prices drop for third straight time

The Saigon Times

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HCMC – Domestic fuel retail prices continued to slide further from 3 p.m. today, May 11, marking the third consecutive decrease since the end of April.

RON 95-III gasoline dropped by VND1,320 to VND21,000 per liter and E5 RON 92 bio-gasoline costs VND20,130 per liter, down by VND1,300, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.

Diesel oil is now priced at VND17,650 per liter, down by VND600, and kerosene sells for VND17,970 per liter, falling by VND550.

Heavy fuel oil is now capped at VND14,860 per liter, dropping by VND640.

In this fuel price adjustment round, the two ministries decided to extract VND300 for each liter or kilogram of RON 95-III gasoline, E5 RON92, diesel oil, kerosene and heavy fuel oil to replenish the national fuel price stabilization fund.

Local fuel traders are not allowed to tap the fund.

Since the beginning of the year, local fuel prices have been adjusted 14 times, with seven increases, six decreases and one unchange.

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