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Fuel prices drop to two-year lows

HCMC – Domestic fuel prices were today revised down by VND937-1,661 per liter or kilogram. The reductions sent fuel prices plunging to two-year lows.

In an announcement jointly made by the ministries of Industry-Trade and Finance, RON 95-III gasoline now sells for VND21,200 per liter, down VND1,504, and E5 RON 92 bio-gasoline inched down by VND1,333 to VND20,346 per liter.

Diesel oil fell by VND1,543 to VND21,670 per liter, kerosene slid by VND1,661 to VND21,901 per liter and heavy fuel oil edged down by VND937 to VND13,016 per kilogram.

In this revision, the ministries decided to replenish the fuel price stabilization fund. Accordingly, E5 RON 92, RON 95-III, diesel oil, kerosene and heavy fuel oil are subject to a respective surcharge of VND300, VND400, VND800, VND500, and VND500.

To control domestic fuel prices, the Finance Ministry proposed maintaining the 2022 environmental protection tax on gasoline, oil and lubricants in 2023.

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