Retail fuel prices were reduced further from 3 p.m. on April 23 following a decision by the Ministries of Industry and Trade and Finance.
Accordingly, the price of E5RON92 biofuel is capped at VND21,834 (US$0.83) per liter, down VND100, and remaining VND1,046 lower than RON95-III. The price of RON95-III is set at no more than VND22,880 per liter, down VND162.
Meanwhile, diesel 0.05S is capped at VND26,697 per liter, marking a sharp decrease of VND1,159, and mazut 180CST 3.5S is priced at no more than VND18,811 per kilo, down VND820.
In the latest adjustment, the two ministries decided to contribute to the petrol and oil price stabilization fund at VND400 per liter for diesel and VND400 per kilo for mazut, while making no withdrawals from the fund for any fuel products.
The Ministry of Industry and Trade said it will coordinate with relevant agencies to monitor fuel traders’ compliance in ensuring adequate supply for the domestic market, pledging strict action against any violations.
Amid strong fluctuations in the global petrol prices, fuel prices in Vietnam remain lower than those in neighboring countries, including Thailand, Cambodia, Laos, and China, the ministry added.
