Petrol prices see fifth straight decrease

HÀ NỘI — The retail price of biofuel E5 RON 92 fell by VNĐ394 to trade at a maximum of VNĐ16,787 (US$0.72) per litre at 3pm today, the ministries of Industry and Trade and Finance announced.

The price of RON 95 dropped by VNĐ318 to a maximum of VNĐ18.141 per litre, while the prices of diesel 0.05S and kerosene went down by VNĐ257 and VNĐ249 to VNĐ16,001 and VNĐ15,003 per litre, respectively.

The price of mazut 180CST was lower by VNĐ394 to VNĐ14,008 per kilo.

According to the ministries, in the 15 days before December 21, the global price of RON 92, which is used to produce biofuel E5, averaged $58.86 per barrel and RON95 was at $60.94 per barrel.

The two ministries also decided to keep the use of subsidies from the petrol price stabilisation fund unchanged.

Subsidies for E5 RON 92 and RON 95 were VNĐ300 and VNĐ1,000 per litre, respectively. For diesel and kerosene, the subsidies were VNĐ1,200 per litre and for mazut VNĐ1,400 per kilo.

Reviews of fuel prices are set to be announced every 15 days to keep up with swings in the global market.

Domestic petrol prices have decreased five consecutive times since October for total drop of VNĐ4,200 per litre. — VNS