Petrol prices down by 600 VNĐ per litres after seven hikes

March 21, 2022 - 20:46

Retail petrol prices reduced by more than 600 VND per litre from 3pm on March 21 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

A gas station in Hà Nội. VNA/VNS Photo

HÀ NỘI — Retail petrol prices were reduced by more than VNĐ600 (US$0.026) per litre from 3pm on March 21 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

The retail price of RON95 bio-fuel dropped by VNĐ632 to VNĐ29,192 ($1.28) per litre at most, whereas that of E5RON92 was adjusted down by VNĐ655 to no more than VNĐ28,330 per litre.

This is the first decline following seven consecutive hikes of petrol prices in 2022, with total hikes amounting to over VNĐ6,500 per litre.

The two ministries also decided to use the petrol price stabilisation fund at a rate of VNĐ200 per litre for E5 RON 92, VNĐ50 per litre for RON 95, and VNĐ400 per litre for diesel.

World petrol prices have shown a tendency to increase again due to supply reduction concerns, the Ministry of Industry and Trade said. — VNS

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