As a result, the price of E5 RON 92 fell by VND290 per litre to VND19,450 (USD0.76) per litre, while RON 95 dropped by VND370 per litre to VND20,600 per litre.
Diesel oil declined by VND340 per litre to VND18,570 per litre; kerosene was reduced by VND310 per litre to VND18,980 per litre, and mazut oil price fell by VND385 per kilo to VND16,099 per kilo.
The two ministries decided not to use the Petrol Price Stabilisation Fund this time.
Fuel prices in Vietnam are at their lowest level for more than three years. Since early this year, petrol prices have increased 21 times and decreased 24 times, while diesel oil prices have seen 20 increases and 24 decreases.
The Ministry of Finance proposed maintaining the environmental protection tax of VND2,000 per litre for gasoline and VND1,000 per litre for aviation fuel, diesel, mazut, and lubricating oils in 2025.