Fuel prices decrease after May hike

The Ministry of Industry and Trade and the Ministry of Finance have cut petrol prices by VND234 to VND368 per litre from June 22.

illustrative image

The prices of E5 RON92 was cut by VND329 to VND19,611 (USD0.87) per litre and RON95 price was decreased by VND334 to VND21,177. The prices of diesel and kerosene fell to VND17,460 and VND16,054 respectively. Mazut prices remain at VND14,437.

The world average prices of RON92 by June 22 dropped to USD81.25 per barrel, USD4 lower than the previous 15-day period. Since the world prices are lowering, the ministries also drop the fuel prices. Moreover, the fuel stabilisation fund has subsidised prices.

The new prices have taken effect from 3 pm on June 22.

On May 23, the price of RON 95-III rose by VND600 to VND21,511 per litre.