The price of RON95 fell by VND280 per litre to VND20,820 per litre, while that of E5 RON 92 biofuel down by VND360 per litre to VND19,970 per litre.

The prices of diesel 0.05S and kerosene also dropped by VND380 per litre and VND340 per litre to VND18,090 per litre and VND18,720 per litre, respectively. Mazut 180CST 3.5S price was also down VND400 per kilo to VND15,150 per kilo.

So far this year, domestic petrol prices have increased 17 times and decreased 19 times.

The two ministries also decided not to use the petrol price stabilisation fund this time.

According to the two ministries, the global oil market for the current price adjustment cycle from August 29 to September 4 was impacted by major factors such as an expected increase in oil supply from Libya and OPEC+ countries in the near future, continued weak oil demand from China, and ongoing military conflict between Russia and Ukraine.