A petrol station in the northern province of Bắc Ninh. The retail prices of petrol were reduced on Monday. — VNA/VNS Photo

HÀ NỘI — The retail prices of petrol were reduced as from 3pm on Monday 16.

Specifically, the price of biofuel E5 RON92 was down VNĐ90 to VNĐ19,729 (US$0.85) per litre at the highest, and that of RON95 also fell by VNĐ192 to VNĐ20,886 per litre.
Meanwhile, the prices of diesel 0.05S and kerosene were capped at VNĐ16,063 and VNĐ15,016 per litre, up VNĐ75 and VNĐ54 per litre, respectively. Mazut 180CST 3.5S is sold at no more than VNĐ11,358 per kilogramme, up VNĐ170 per kilogramme.

In order to set these prices, the ministries of Industry and Trade and Finance have used the Price Stabilisation Fund for E5RON92 gasoline at VNĐ100 per litre (the previous period was VND200 per litre), RON95 gasoline at VNĐ400, fuel oil at VNĐ800, kerosene at VNĐ100.

The use of the Price Stabilisation Fund is expected to regulate petrol price stabilisation at the end of the year and Lunar New Year, as well as maintaining the price gap between biofuel E5RON92 and mineral gasoline RON95 to encourage the use of biofuel to protect the environment. — VNS