The retail price of RON 95 dropped by VNĐ1,085 to a maximum of VNĐ20,134 (US$0.86) per litre at 3pm on Monday. — Photo thuongtruong.com.vn

HÀ NỘI — The retail price of RON 95 dropped by VNĐ1,085 to a maximum of VNĐ20,134 (US$0.86) per litre at 3pm on Monday, the ministries of Industry and Trade and Finance jointly announced.

The price of biofuel E5 RON 92 fell by VNĐ986 to trade at a maximum of VNĐ19,233 per litre while the prices of diesel 0.05S and kerosene went down by VNĐ737 and VNĐ614 to VNĐ16,657 and VNĐ15,611 per litre, respectively.

The price of mazut 180CST was lower by VNĐ239 to VNĐ15,115 per kilo.

According to the ministries, in the past 15 days, the global price of RON 92, which is used to produce biofuel E5, averaged $64.28 per barrel and RON95 was at $66.01 per barrel.

The two ministries also decided not to use subsidies from the petrol price stabilisation fund for this adjustment.

Reviews of fuel prices are set to be announced every 15 days to keep up with swings in the global market.

This is the third consecutive retail petrol prices have been reduced. At the last adjustment on June 2, retail prices of RON 95 and biofuel E5 RON 92 were reduced by VNĐ380 and VNĐ269 per litre, respectively. — VNS