Prices of petrol were revised down significantly from 3pm on May 9. - VNA/VNS Photo

HÀ NỘI - Retail prices of petrol were revised down significantly from 3pm on May 9 by the Ministry of Industry and Trade, and the Ministry of Finance.

Specifically, the price of E5RON92 bio-fuel was cut by VNĐ1,288 to no more than 22,623 (US$0.9) per litre, while that of RON95-III fell by VNĐ1,411 to VNĐ23,544 per litre at the maximum.

Diesel 0.05S and kerosene are now priced at VNĐ19,847 per litre and VNĐ19,701 per litre at the highest, down VNĐ759 and VNĐ843, respectively.

Meanwhile, mazut oil 180CST 3.5S is sold at no more than VNĐ17,503 per kg, VNĐ160 lower than the previous adjustment.

The two ministries have decided not to use the petrol price stabilisation fund.

According to them, this adjustment saw the world oil market influenced by factors such as the increase in US commercial crude oil inventories, the strengthening of the US dollar, which exerted pressure on global oil demand, and the ongoing military conflicts between Russia and Ukraine, among others. As a result, global oil prices fluctuated in recent days, with decrease as the dominant trend. - VNS