The retail price of E5RON92 bio-fuel dropped by 2,715 VND to a maximum of 25,073 VND (1.07 USD) per litre, while that of RON95-III was cut by 3,605 VND to 26,070 VND per litre.

Illustrative photo.

Meanwhile, the prices of diesel and kerosene decreased by 1,735 VND and 1,099 VND to 24,858 VND and 25,246 VND per litre, respectively.

The two ministries also decided to use the petrol price stabilisation fund at a rate of 550 VND – 950 VND per litre.

After three times of being adjusted down, petrol prices have reduced about 6,000 VND per liter in total.

Gasoline prices jump another 2.5 percent

Vietnam gasoline prices set yet another new record Monday after authorities adjusted them upward for the sixth consecutive time.

Lawmakers approve environmental tax cut on gasoline

The Standing Committee of the National Assembly Wednesday approved a government proposal to cut environmental tax on gasoline by half as prices surge.

How Vietnam gasoline prices compare with that of other countries

Gasoline prices have doubled in Vietnam in less than two years to an all-time high, and account for a higher ratio of income than in several neighboring countries.

Gasoline prices surge 10 pct

Vietnam gasoline prices skyrocketed by 10 percent to another new record Friday, after authorities adjusted them upward for the seventh time in three months.

Gas price fluctuations over the last 13 years

Gas prices in Vietnam have more than doubled since 2009 and exceeded their previous peak of 2014 as global rates increase over supply shortages.

Source: NDO/VNA