The retail prices of petrol were strongly reduced starting 3pm on February 14 in the latest review, the third decrease since the beginning of the year.
|Illustrative image (Photo: VNA)
The Ministries of Industry and Trade, and Finance review fuel prices every 15 days to adjust domestic prices in accordance with fluctuations in the global market.
Price of E5RON92 dropped by 765 VND per litre to 18,503 VND (0.80 USD) per litre at the highest, while that of RON95-III was adjusted down by 742 VND per litre to 19,380 VND per litre.
The prices of diesel 0.05S and kerosene were capped at 15,175 VND and 13,954 VND per litre, dropping 961 VND and 1,108 VND per litre, respectively.
Meanwhile, mazut 180CST is sold at no more than 11,652 VND per kg, down 792 VND per kg.
The two ministries are flexibly using the petrol price stabilisation fund as a tool to ensure domestic petrol prices reflect global trend and curb inflation in the face of the acute respiratory disease caused by a new strain of coronavirus (COVID-19).
They decided to subsidise 100 VND and 600 VND per litre for E5RON92, RON95, and 700 VND for diesel and kerosene, and 200 VND per kg for mazut.