The prices of RON 92 petrol and bio-fuel E5 dropped VND 521 and VND 355 per liter respectively, from 3:00 pm on November 19.

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Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene also declined VND 514 and VND 578 per liter respectively.

Under the joint decision, RON 92 and E5 petrol is sold at no more than VND 16,371 (USD 0.726) and VND 16,221 (USD 0.719) per liter respectively, while current ceiling price of diesel 0.05S and kerosene are VND 12,509 (USD 0.555) and VND 10,965 (USD 0.486) per liter.

The ministries also decided to keep retailers’ contribution to the Petroleum Price Stabilization Fund unchanged and give them a subsidy of VND 0 per liter.

It was the first decrease in fuel prices in recent months after six consecutive hikes.

It also marked the 22nd adjustment this year, with 11 increases bringing prices up by a total VND 5,000 (USD 0.221) per liter, nine cuts with a total amount of VND 4,463 (USD 0.198) per liter and two times unchanged.

Source: VNA