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Saturday, December 3, 2022

Fuel prices fall sharply

By Le Hoang

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HCMC – Domestic fuel retail prices declined by over VND3,000 per liter starting today, July 11, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.

The downward revisions resulted partly from an environmental protection tax reduction on fuels and the global oil price fall.

Bio-fuel E5 RON92 now sells for VND27,790 per liter, down by VND3,100. The RON95-III gasoline is priced at VND29,680 per liter, falling VND3,090.

Diesel oil fell by VND3,020 per liter to VND26,590. Kerosene edged down by around VND2,000 to VND26,345 per liter. Heavy fuel oil inched down VND2,010 per kilogram to VND17,710.

This time, the two ministries decided to impose a surcharge on all the fuels to replenish the national fuel price stabilization fund. The surcharges on the bio-gasoline and RON95 petrol are VND950 per liter.

The extraction levels for each liter or kilogram of diesel oil, kerosene oil, and heavy fuel oil sold are VND550, VND800, VND950, respectively.

Meanwhile, local fuel traders are not allowed to tap the national fuel price stabilization fund.

In the year to date, fuel retail prices in the country have been adjusted for 18 times, with 13 of them up and five down.

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