In the latest price adjustment, the two ministries decided to use the petrol and oil price stabilization fund for fuel categories at the following rates: 500 VND per liter for biofuel, 700 VND per liter for unleaded gasoline, 300 VND per liter for diesel oil, and 700 VND per kilogram for mazut oil.
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Petrol prices cut from 3p.m. on May 28 (Photo for illustration) |
Accordingly, E5RON92 petrol is capped at 23,258 VND (0.88 USD) per liter, down 1,082 VND, while RON95-III is sold for no more than 24,154 VND per liter, down 1,395 VND.
Diesel 0.05S is set at no more than 27,651 VND per liter, down 1,110 VND, while mazut 180CST 3.5S is capped at 20,442 VND per kilogram, down 1,041 VND.
The Ministry of Industry and Trade said the global petroleum market during the latest pricing period was affected by several factors, including new developments in negotiations between the U.S. and Iran, continued U.S. attacks while still in talks with Iran, warnings of retaliation from Iran, the gradual recovery of maritime traffic through the Strait of Hormuz, rising inflation in the U.S. due to volatile energy prices, declining global commercial oil reserves and the prolonged Russia–Ukraine conflict.
These factors caused global refined fuel prices to fluctuate, though the main trend was downward, it noted.
As of May 28, Vietnam’s petrol and oil prices remained lower than those in neighboring countries, according to the ministry.
Source: VNA