Fuel prices drop in Vietnam
Wednesday, October 11, 2023, 16:25 GMT+7
The retail prices of gasoline and oil products in Vietnam fell significantly by between VND1,200 (US$0.04) and VND1,800 ($0.07) per kilogram or liter at 4:00 pm on Wednesday, according to an announcement jointly issued by the Ministry of Finance and the Ministry of Industry and Trade.
Each liter of biofuel RON92 now sells for VND21,907 ($0.9), down VND1,595 ($0.06), while that of RON95 gasoline is offered at VND23,044 ($0.94), dipping nearly VND1,800 ($0.07).
As for oil products, the prices of diesel oil and kerosene are capped at VND22,410 ($0.92) and VND22,464 ($0.92) per liter, down nearly VND1,200 ($0.04) and VND1,350 ($0.05), respectively.
The price of heavy fuel oil fell VND1,210 ($0.04) per kilogram to VND16,240 ($0.66).
During this fuel price adjustment, the two ministries decided not to allow fuel traders to tap the national fuel price stabilization fund, while imposing no surcharges on gasoline and oil products.
This is the second fuel price fall this month.
Since July 3 this year, petrol prices have been adjusted 10 times in the local market, with seven hikes and two cuts.
The ministries said the global fuel market has been affected by several factors, including the cautious sentiment of fuel traders amid possible fuel supply disruptions caused by the ongoing conflict between Israel and the Palestinian group Hamas.
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