Hanoi (VNA) 𓂃– The Ministry of Industry and Trade, and the Ministry of Finance have decided to reduce the retail sale prices of petrol products from 3pm on August 8.
Accordingly, the price of E5RON92 bio-fuel was cut by 901 VND to 20,715 VND (0.82 USD) per litre, while that of RON95-III fell by 930 VND to 21,673 VND per litre.
Meanwhile, the price of diesel 0.05S dropped by 737 VND to 19,141 VND per litre, and kerosene is now priced at 19,411 VND per litre, down 684 VND. Mazut oil 180CST 3.5S is sold at 16,028 VND per kg, a decrease of 858 VND.
The two ministries decided not to use the petrol price stabilisation fund in this adjustment./.
The Ministry of Industry and Trade (MoIT) will send a proposal to the government on whether it is necessary to maintain the petrol price stabilisation fund in June.
The Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) announced the adjustment of petrol prices to be over 850 VND higher per litre at 3pm on July 12.
Cuts of the special consumption and environmental protection taxes on petroleum may be a suitable solution to the current petrol price issue, according to economists.
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