Price of petroleum remains steady
Local petroleum retail prices remain unchanged at VND17,286 (US$0.80) per litre on March 26, while the Government has asked the stabilisation fund to be reduced.
Accordingly, the ministries of industry and trade and finance ordered fuel traders to keep diesel selling prices stable at VND15,883 per litre.
Oil prices were slightly reduced by VND250 from VND16,323 to VND16,323 per litre. Mazut prices were also lowered from VND12,761 to VND12,653 per litre.
This was the third time this year that petroleum prices remained unchanged during each adjustment.
The two ministries have also decided to reduce the stabilisation fund by VND832 per litre for petroleum; VND883 per litre for diesel and VND837 and VND927 per litre for oil and mazut respectively.
In the world market, fuel prices have been declining, despite complex changes.
On March 11, fuels prices surged from VND700 to VND1,600 per litre, which was considered the highest increase since the beginning of the year.