Petrol prices fall sharply to below VND20,000 per litre following global trend

Accordingly, the price of RON95-III dropped by VND710 to VND19,800 per litre, while that of E5 RON 92 biofuel was also adjusted down by VND770 to a maximum of VND18,850 per litre.

The prices of diesel 0.05S and kerosene declined by VND100 and VND220 to VND17,400 per litre and VND17,650 per litre, respectively.

Meanwhile, Mazut 180CST 3.5S was sold at no more than VND15,000 per kilogram, down by VND350.

For the latest price adjustment, the two ministries decided not to extract the petrol price stabilization fund.

Since the beginning of this year, petrol prices have undergone 39 adjustments, with 19 times up and 20 times down. Meanwhile, oil prices have experienced 16 times up and 23 times down.

The global oil market for the current price adjustment cycle from September 26 to October 3 was impacted by major factors such as the escalation of ongoing tensions in the Middle East, Russia-Ukraine military conflict, and the increase in US crude oil reserves.

These factors caused fluctuations in global oil prices in recent days, with mixed increases and decreases, but the prices were primarily on a downward trajectory.