Petrol prices down for third time in 2016

The retail prices of petrol have been slashed for the third time this year, down to below VND15,000 per litre following a joint decision by the Ministry of Finance and the Ministry of Industry and Trade.

Petrol prices down for third time in 2016

A litre of RON 92 petrol is now priced at VND14,713, down VND729, and E5 bio-fuel at VND14,263, down VND496.

The decision, which took effect from 15:00 on February 3, also brought down the prices of diesel by VND627 per litre, kerosene by VND483 per litre and mazut by VND20 per kilogramme.

According to the Ministry of Industry and Trade, a barrel of RON 92 petrol on the Singaporean market has dropped from US$48.59 to US$45.25 over the past 15 days.