Petrol price cut by over VND370 per litre

Monday, 2016-01-04 16:44:19
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The retail price of RON 92 petrol was cut by VND373 per litre as of 3pm January 4.
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NDO - The retail price of RON 92 petrol was reduced by VND373 per litre as of 3pm January 4, announced the Ministries of Industry and Trade and Finance.

Accordingly, RON 92 petrol is now being sold at VND16,032 per litre. The price of E5 bio-petrol a saw decrease of VND571 per litre to VND15,339 per litre.

Diesel 0.05S and kerosene fell by VND856 per litre and VND791 per litre to VND11,119 per litre and VND10,274 per litre, respectively.

In the meantime, the price of fuel oil was also cut by VND616 per kg.

This is the first price adjustment in 2016, making the price of petrol about VND1,700 per litre lower than the same period last year. Meanwhile, the price of diesel is around VND7,300 per litre lower than in early 2015.

According to the two ministries, in the past 15 years, the average price of RON 92 petrol in the world was at US$51.391 per barrel, a decrease of over US$2 per barrel; while the price of diesel was US$43.284 per barrel, down more than US$5 per barrel.

In 2015, petrol prices were increased six times and cut 12 times.