Since the beginning of this year, domestic fuel prices have undergone 14 adjustments, including five decreases and nine increases for RON95 and six declines and eight hikes for E5 RON92. Meanwhile, diesel price has fallen three times and risen 11 times.
Retail fuel prices in Vietnam saw mixed trends under the latest adjustment from 22:00 on March 12 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance.
Accordingly, E5 RON92 biofuel was capped at VND22,504 (US$0.86) per liter, down VND447 from the previous level, while the price of RON95-III petrol rose by VND335 to VND25,575 per liter. The price of diesel increased by VND555 to VND26,932 per liter, while that of kerosene rose by VND2,513 to VND26,932 per liter.
Mazut oil saw its price fall by VND340 to VND18,661 per kg.
Authorities continued using the petrol price stabilisation fund to offset price hikes, maintaining a reasonable price gap between E5 RON92 bio-gasoline and RON95 unleaded gasoline to encourage the use of biofuels and ensure a balance of interests among market participants.
Since the beginning of this year, domestic fuel prices have undergone 14 adjustments, including five decreases and nine increases for RON95 and six declines and eight hikes for E5 RON92. Meanwhile, diesel price has fallen three times and risen 11 times.
The new base price will remain in effect until the next price announcement by the MoIT. Enterprises must adjust their prices in accordance with current decrees and circulars on petroleum trading management and the use of the price stabilisation fund.
The MoIT will continue coordinating with relevant authorities to inspect and supervise the implementation of regulations on ensuring petrol supply, and will strictly handle any violations if detected.
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