Fuel prices lowered as part of largest adjustment since early 2022

July 11, 2022 - 11:13

Fuel prices decreased by more than VNĐ3,000 (US$0.13) per litre on July 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

A driver gets his motorbike refilled at a fuel station. VNA/VNS Photo

HÀ NỘI — Fuel prices decreased by more than VNĐ3,000 (US$0.13) per litre on July 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

The price of RON95 fell by VNĐ3,088 to VNĐ29,675 per litre, whereas E5RON92 bio-fuel dropped by VNĐ3,103 to VNĐ27,788 per litre.

The prices of diesel DO 0.05s-II and kerosene were slashed by VNĐ3,022 and VNĐ2,008 to VNĐ26,593 and VNĐ26,345 per litre, respectively.

This was the first significant reduction in petrol prices after a series of hikes over the past months.

On July 8, the National Assembly Standing Committee issued Resolution 0/2022/UBTVQH15 at the Government’s request to reduce the environmental tax on petrol, oil and grease, helping curb the rises in domestic fuel prices. — VNS

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Seminar for young managers opens at NEU

The seminar, held by NEU's International School of Economics and Management, provides managers in enterprises, CEO and founders of start-up businesses with practical, up-to-date, breakthrough business/management tools.

Economy

Việt Nam targets $5.5b in agro, forestry, fishery export value to EU

Economy

Thermal power companies face difficulties while hydropower benefits

The risk of a coal shortage and high input material prices have affected thermal power businesses, while hydropower enterprises are expected to benefit from the higher power selling prices compared to last year.

Economy

CAAV asks to increase airfare due to oil prices

To deal with fuel prices, the Civil Aviation Authority of Vietnam (CAAV) just proposed raising air service prices on domestic routes to the Ministry of Transport (MoT).

Economy

Brands urged to prepare for changes in VN’s consumer market

A rising affluent class, more nuclear families, the booming development of digital technology, and an increasing demand for personalisation among consumers will offer opportunities and challenges for FMCG brands in the coming years, according to Kantar Worldpanel Vietnam.