VOV.VN - The retail prices of petrol were revised down by over VND500 per litre from 3pm on November 23 in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
Specifically, the prices of RON 95-III and E5 RON 92 decreased by VND506 and VND584 to VND23,024 and VND21,690 per litre respectively.
Meanwhile, the prices of diesel and kerosene also dropped VND605 and VND568 to VND20,288 and VND20,944 per liter
Mazut 180CST 3.5S was capped at VND15,638 per kilogram after witnessing an increase of VND15 per kilogram.
For the latest adjustment, the two ministries decided not to use the petrol and oil price stabilisation fund.
According to the Ministry of Industry and Trade, the global petroleum market from November 13 to 23 has been affected by OPEC+’s decision to extend output oil cuts into 2024, low demand due to economic recession and slow global growth, as well as high US inventories.
The government has recently allowed the Ministry of Industry and Trade and the Ministry of Finance to adjust domestic retail prices of petrol and oil every Thursday, starting November 23, in an effort to keep up with global market fluctuations.
VOV.VN - Vietnam spent a total of US$13 billion on buying petrol, oil, and other petroleum products over the past 10 months of the year, according to the General Department of Vietnam Customs.
VOV.VN - The retail prices of petrol and oil dropped by between VND340 and VND1,060 per liltre or kilogram from 3:00 pm on November 13 by the Ministry of Industry and Trade, and the Ministry of Finance.
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