Petrol prices down after four consecutive increases

In the latest price adjustment by the Ministry of Industry and Trade, and the Ministry of Finance, RON95-III, the most commonly used fuel in Vietnam, dropped by VND260 to VND23,290 per litre.

The price of E5 RON 92 biofuel was also revised down by VND180 to a maximum of VND22,280 per litre.

Elsewhere, the prices of diesel 0.05S and kerosene were capped at VND20,830 per litre and VND21,030 per litre, decreasing by VND340 and VND180 per litre, respectively.

Meanwhile, Mazut 180CST 3.5S was sold at no more than VND17,780 per kilogram, up VND250.

In this price adjustment, the two ministries decided not to use the petrol price stabilization fund.

Since the beginning of this year, petrol prices have undergone 28 adjustments, with 13 times up, 8 times down, and 7 mixed changes.

Experts say, petroleum prices in the past week were impacted by factors such as escalating tensions in the Middle East, high oil inventories in the US, and the prolonged military conflict in Ukraine. These factors caused world petroleum prices to fluctuate in recent days, primarily on an upward trajectory.