Under a decision by the Ministry of Industry and Trade and Ministry of Finance, the retail prices of E5 RON 92 and RON 95 dropped by VND1,330 and VND1,500 per litre to VND20,340 and VND21,200, respectively.
Petroleum prices continue falling
Kerosene declined by VND1,660 per litre to VND21,900, diesel dropped by VND1,540 per litre to VND21,670, and mazut oil fell by VND937 per kilo to VND13,016.
The Ministry of Finance has proposed that the government should set the environmental fuel tax at its floor limit from January 1, 2024. The plan, if accepted, will see environmental fuel tax for gasoline stay at VND1,000 per litre, jet fuel at VND3,000, diesel at VND500, mazut at VND300, and kerosene at VND300, according to Vietnam News Agency.
The Ministry of Finance said that with the Lunar New Year holiday just around the corner, the government's top priorities are to stabilise the economy, assure manufacturers and consumers, and maintain favourable macroeconomic factors. This will also set the foundation for the government's effort toward keeping inflation in check next year.
