Petrol and oil prices decrease in latest adjustment
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.
According to the changes, the price of RON 95-III went down VND390 to VND23,530 per litre while that of E5 RON 92 was also reduced by VND340 to VND22,270 per liter.
This is the first reduction in petrol prices after two total consecutive increases of between VND700 and VND800per liter in late October and early November respectively.
Elsewhere, the price of diesel oil declined by VND1,060 to VND20,880 per litre, while that of kerosene decreased by VND790 to no more than VND21,510 per litre.
Meanwhile, mazut 180CST 3.5S was capped at VND15,620 per kilo, marking a fall of VND620 per kilo compared to the previous adjustment.
For the latest adjustment, the two ministries decided not to use the petrol and oil price stabilisation fund.
Since the beginning of the year, petrol prices have been adjusted up 18 times, down 10 times and kept unchanged four times.
According to the two ministries, the global petroleum market in the past 13 days has experienced fluctuations after Russia and Saudi Arabia confirmed a reduction in oil supply,
In addition, the increase in the US dollar’s value and the ongoing conflict in the Middle East have also made an impact on the price fluctuations in the global market.
