Petrol prices retreat to 11-year low

The prices of fuel in Vietnam declined the seventh consecutive time this year on April 13 to the lowest level in the past 11 years since March 2009 under the decision of the ministries of Finance and Industry and Trade.

Accordingly, the price of RON95 gasoline was cut by VND621 per liter to a maximum of VND11,930 per liter. The price of biofuel E5 RON92 dropped by VND613 per liter to not higher than VND11,340 per liter.

Diesel oil retreated VND436 per liter to VND10,820 per liter. Kerosene sank VND502 per liter to VND8,630 per liter. Mazut oil slid VND126 per kilogram to VND9,320 per kilogram.

Thus, after seven consecutive decreases, the price of RON95 gasoline has fallen VND9,051 per liter and that of E5 RON92 gasoline has lowered VND8,538 per liter.

In the adjustment on March 29, E5 RON92 gasoline saw a decrease of VND4,100 per liter, from VND16,056 per liter to VND11,956 per liter; RON95 gasoline posted a drop of VND4,252 per liter, from VND16,812 per liter to VND12,560 per liter. This was the highest drop in history.

The ministries of Finance and Industry and Trade also took VND400 for each liter of E5 RON92 gasoline, VND1,400 per liter for each liter of RON95 gasoline, kerosene, and diesel oil, and VND200 per kilogram for each kilogram of mazut oil to set up the Fuel Price Stabilization Fund.

Fuel traders were still not allowed to use the fund.