Domestic retail petroleum prices fell at 3 pm today, August 22, after a decision by the Ministry of Industry and Trade and the Ministry of Finance.
The price of biofuel E5 RON92 decreased by 460 to VND20,420 per litre, while RON95 fell by VND540 to VND21,310 per litre.
Diesel prices declined by VND460 to VND18,770 per litre, kerosene declined by VND430 to VND19,410 per litre, and mazut prices dropped to VND15,750 per kilo.
So far this year, domestic petrol prices have increased 17 times and decreased 17 times.
The two ministries decided not to use the petrol price stabilisation fund.
According to Minister of Industry and Trade Nguyen Hong Dien, the fuel price adjustment cycle has been reduced to seven days, helping to narrow the fluctuation margin between domestic and global fuel prices.
Source: dtinews.vn