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Local fuel prices decline further

HCMC – Domestic fuel retail prices dropped by over VND1,000 per liter today, May 4, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.

RON 95-III gasoline now sells for VND22,320 per liter, down by VND1,310, while E5 RON 92 bio-gasoline costs VND21,430 per liter, down by VND1,250.

Other fuels also went down. Diesel oil is now priced at VND18,250 per liter, down by VND1,140.

Kerosene and heavy fuel oil are capped at VND18,520 per liter and VND15,500 per kilogram, dropping by VND960 and VND340, respectively.

In this fuel price adjustment round, the two ministries decided to extract VND500 for each liter of RON 95-III gasoline, E5 RON92, diesel oil, and kerosene sold to replenish the national fuel price stabilization fund. Heavy fuel oil is subject to a surcharge of VND300 per liter.

Meanwhile, local fuel traders are not allowed to tap the fund.

Since the beginning of the year, local fuel prices have been adjusted 13 times, with seven increases, five decreases and one unchanged.

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