Petrol prices down sharply by nearly VND1,000 per litre

Thursday, 2016-02-18 16:36:02
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NDO - Retail petrol prices have been slashed by nearly VND1,000 per litre following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance.

With the latest decree, which took effect at 15:00 on February 18, a litre of RON 92 petrol and E5 biofuel is now priced at less than VND13,752 and VND13,321 respectively.

Meanwhile the prices of diesel, kerosene and mazut remained unchanged.

According to price regulators, a barrel of RON 92 petrol in Singapore has dropped from an average of US$45.25 to US$40.5 in the last 15 days.

Since the start of 2016, retail petrol prices have been cut four consecutive times thanks to falling oil prices on the global market.

Petrol prices are now at the lowest level since July 2009.