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Local fuel prices continue to drop

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HCMC – The ministries of Finance and of Industry and Trade continued to lower fuel retail prices on April 28, marking the eighth consecutive reduction since early 2020.

The retail prices of E5 bio-fuel, RON95 gasoline, diesel oil, kerosene and heavy fuel oil slid by VND401, VND308, VND674 and VND882 per liter and VND657 per kilogram, respectively, the local media reported.

Therefore, E5 bio-fuel and RON95-III gasoline now sell for less than VND10,942 and VND11,631 per liter, respectively.

Meanwhile, the respective prices of diesel oil, kerosene and heavy fuel oil are not higher than VND9,941, VND7,965 and VND8,670 per liter or kilogram.

Local fuel traders can extract VND400 for each liter of bio-fuel E5 RON92 sold to replenish the fuel price stabilization fund. The respective extraction rate for each liter or kilogram of RON95 petrol, kerosene, diesel oil and heavy fuel oil sold is VND1,400, VND1,600, VND1,600 and VND500.

The two ministries noted that the fuel price reduction followed the drop in global fuel prices over the past 15 days. Each barrel of RON95 gasoline was priced at US$19.735, down over US$1.5 per barrel.

 

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