According to the latest adjustment, E5 RON 92 dropped by VND390/litre to VND18,490/litre, while RON 95 decreased by VND350/litre to VND18,850/litre.

Oil prices also followed a downward trend, with diesel falling by VND210/litre to VND17,030/litre; and kerosene dropping VND230/litre to VND17,180/litre. Only mazut slightly increased by VND60/kg to VND15,960/kg.

The Price Stabilization Fund was neither used nor replenished during this adjustment, in line with recent pricing cycles.

This marks the second consecutive drop in domestic petrol prices, bringing the cost to its lowest point in four years, comparable to April 2021 levels.

A week ago, RON95 was priced at no more than VND19,200/litre, down VND1,710, and E5 RON 92 also went down by VND1,490 to a maximum of VND18,880/litre.

Since the beginning of the year, RON 95 has been adjusted 16 times, with 8 increases and 8 decreases, while diesel has seen 7 increases, 8 decreases, and 1 time left unchanged.

In another development, the Ministry of Industry and Trade recently issued a new circular amending, supplementing, and abolishing certain regulations governing the fuel retail business. These updates aim to better align with the current fuel market landscape in Vietnam.

Notably, the circular abolishes the inter-ministerial pricing committee, the base price calculation method, and the management and usage mechanisms for the Price Stabilization Fund. It also introduces a new fuel pricing mechanism, whereby the Ministry of Industry and Trade, based on fuel cost data and written feedback from the Ministry of Finance, will announce the base price and retail price for fuels.

Petrol prices fall below VND19,200 per litre

VOV.VN - Petrol prices were revised down at 3 p.m. on April 10 by the Ministry of Finance and the Ministry of Industry and Trade, dropping to below VND19,200 per litre.