In the latest price adjustment, the two ministries decided to use the petrol and oil price stabilisation fund for fuel categories at the following rates: VND100 per liter for biofuel, VND200 per liter for diesel oil, and VND200 per kilogram for mazut oil.
Accordingly, E5RON92 petrol is capped at VND21,332 ($0.81) per liter, down VND452. Diesel 0.05S is set at no more than VND25,877 per liter, down VND989 , while mazut 180CST 3.5S is priced at the maximum of VND18,608 per kilogram, down VND1,037.
Meanwhile, the retail prices of E10RON95 petrol continue to be determined by fuel distributors based on ethanol and base petrol input costs, blending and logistics expenses, applicable taxes, surcharges and regulated profit margins.
At Petrolimex, E10RON95-III is currently sold at VND22,330 per liter while E10RON95-V at VND23,230 per liter.
The Ministry of Industry and Trade said global fuel markets during the latest pricing period were influenced by several key factors, including the prolonged negotiations aimed at ending tensions between the US and Iran, escalating instability in the Middle East, as well as hostilities between Iran and Israel that later eased following announcements of a ceasefire.
The ongoing conflict between Russia and Ukraine also continued to affect market sentiment. As a result, international refined fuel prices fluctuated in recent days, rising or falling depending on the product category.
As of June 11, Vietnam’s petrol and oil prices remained lower than those in neighbouring countries, according to the ministry.
