Petrol prices drop

A man buys fuel at a petrol station in Hà Nội. — VNA/VNS Photo Hoàng Hùng

HÀ NỘI — The retail price of biofuel E 五 RON  九 二 fell by VNĐ 三 二 九 to trade at a maximum of VNĐ 一 九, 六 一 一 (US$0. 八 五) per litre at  三pm today, the Ministries of Industry and Trade and Finance announced.

The price of RON  九 五-III also dropped by VNĐ 三 三 四 to a maximum of VNĐ 二 一, 一 七 七 per litre, while the prices of diesel 0.0 五S and kerosene went down by VNĐ 二 三 四 and VNĐ 三 八 六 to VNĐ 一 七, 四 六0 and VNĐ 一 六,0 五 四 per litre, respectively.

The price of mazut  一 八0CST remained unchanged at VNĐ 一 四, 四 三 七 per kilo.

According to the Ministries of Industry and Trade and Finance, in the  一 五 days before June  二 二, the global price of RON  九 二, which is used to produce biofuel E 五, averaged $ 八 一. 二 五 per barrel. Those of RON 九 五 and diesel 0.0 五S were $ 八 三. 二 九 per barrel and $ 八 六. 八 二 per barrel, respectively.

The global prices of Kerosene and mazut were averaged at $ 八 六. 七 六 per barrel and $ 四 四 四. 九0 一 per barrel, respectively.

The ministries of industry and trade and finance said the adjustment of petrol prices aimed at regulating gasoline prices, contributing to controlling inflation and limiting the increase in the consumer price index (CPI).

The two ministries also decided to decrease the use of subsidies from the petrol price stabilisation fund.

Subsidies for E 五 RON  九 二 were reduced from VNĐ 一, 二 七0 to VNĐ 八 七0 per litre, while those for RON  九 五 were decreased from VNĐ 六 九 八 to VNĐ 一 九 八 per litre. Subsidies for diesel and kerosene, which used to be VNĐ 一 五 六 and VNĐ 三 一, were ceased.

The price of ethanol E 一00, which is used as the basis for the calculation of the price of biofuel E 五 RON  九 二 after the elimination of petrol RON  九 二, stood at VNĐ 一 四, 三 九 九 per litre without value added tax.

Reviews of fuel prices are set to be announced every  一 五 days to keep up with swings in the global market. — VNS