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Local fuel prices inch down

HCMC – The domestic retail prices of fuels were revised down at 15:00 p.m. today, March 1, according to an announcement jointly released by the ministries of Industry-Trade and Finance.

Bio-fuel E5 RON92 is now priced at VND22,420 per liter, down VND120, while the higher-grade RON95 petrol sells for VND23,320 per liter, down VND120, the local media reported.

Diesel oil costs VND20,250 per liter, falling by VND550 per liter, and kerosene is down by VND370 per liter at VND20,470.

Heavy fuel oil picked up VND300 at VND14,550 per kilogram.

During this fuel price adjustment, the two ministries decided to replenish the national fuel price stabilization fund with a fuel surcharge of VND200 for each liter of RON95 petrol sold and VND500 for each liter of diesel oil sold.

Local fuel traders are not allowed to tap the fuel price stabilization fund.

The two ministries have revised down local gasoline prices for second time in a row.

Since the start of the year, petrol prices have been adjusted seven times, with four increases and two cuts.

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