Accordingly, the retail price of RON95 bio-fuel dropped by VND836 to VND27,317 (US$1.19) per liter, while that of E5RON92 was adjusted down by VND838 to no more than VND26,471 per liter.
In the meantime, the price of a liter of diesel is VND24,380 per liter, a decline of VND700.
This is the third decline following seven consecutive hikes in petrol prices in 2022, with a total reduction of nearly VND2,500 per liter.
According to the MoIT, the number of Covid-19 cases in the country has decreased, but the pandemic is still complicated in many provinces and cities across the country.
In line with the government’s policy on safe and flexible adaptation to the pandemic, the two ministries decided to use the petrol price stabilization fund at a rate of VND100-VND1,500 per liter to support the resumption of business and production of enterprises.
The adjustment is to ensure that domestic petrol prices meet the world’s trends, they said.
