Fuel prices decline by VND500 per liter

The ministries of Industry and Trade and Finance on August 16 ordered fuel wholesalers to reduce their prices by more than VND500 per liter as of 3 p.m.

Accordingly, the price of gasoline ethanol blend E5 RON92 was lowered by VND544 per liter to VND19,358 per liter; RON95-III gasoline dropped VND514 per liter to VND20,405 per liter; diesel oil 0.05S retreated VND519 per liter to VND16,504 per liter; kerosene sank VND570 per liter to VND15,396 per liter; and mazut oil lost VND1,855 per kilogram to VND14,072 per kilogram.

At the same time, fuel trading companies have to keep the setting up level of the fuel price stabilization fund for E5 RON92 gasoline at VND100 per liter and for RON95 gasoline and other kinds of oil at VND500 per liter.

According to the ministries, fuel prices in the past 15 days before the adjustment on August 16 were mixed between rising and losing trends but losing trend took the upper hand.

Particularly, the price of RON gasoline used in the production of E5 RON92 gasoline was US$66.966 per barrel, down $3.063 per barrel. The price of RON95 gasoline was $70.197 per barrel, down $2.702 per barrel.