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Friday, June 21, 2024

Local fuel prices fall to record lows of 2022

The Saigon Times

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HCMC – Domestic fuel retail prices have dropped to record lows this year as the ministries of Industry-Trade and Finance announced their joint decision to adjust fuel prices today, September 21.

Bio-fuel E5 RON 92 gasoline fell by VND450 to VND21,781 per liter and RON95-III gasoline declined by VND631 to VND22,584 per liter.

Diesel oil fell by a sharp VND1,644 at VND22,536 per liter, and kerosene slid by a staggering VND1,977 at VND22,441 per liter.

This is the third consecutive fuel price cut since gasoline shot up to an all-time high of VND32,870 per liter in June.

The retail prices of RON-92 III gasoline and bio-gasoline E5 RON 92 are now at their lowest levels since mid-October 2021.

This time the ministries of Industry and Trade-Finance imposed a surcharge on all fuels to replenish the fuel price stabilization fund, with VND451 collected from each liter of E5 RON 92 sold, VND450 from RON95-III and VND300 from diesel oil and kerosene.

Nearly VND2,200 billion from the fund was distributed to stabilize the local fuel prices in the first half of this year.

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