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Petrol prices brought down

Released at: 17:00, 20/07/2015

Petrol prices brought down

Prices cut just a touch from July 20.

by Minh Tuyet

Retail petrol prices were cut from 3pm on July 20, under a decision from the Ministry of Industry and Trade and the Ministry of Finance.

The price for RON 92 fell VND260 per liter, to VND20,120 ($0.92), while the price for E5 was cut VND425 per liter, to VND19,625 ($0.89) per liter.

Diesel is down by VND1,112 per liter, to VND14,681 ($0.67), mazut is down VND872, to VND11,434 ($0.52) per kilogram. Kerosene fell VND1,128, to VND13,750 ($0.63) per liter.

Prices have increased four times and fallen three times since the beginning of the year.

The sharpest increase was on May 5, with RON 92 increasing VND1,950 per liter. After four increases RON 92 now costs VND5,040 ($0.23) more per liter than in 2014. On average, increases have been double the reductions.

According to Vietnam Customs, in the first half of the year Vietnam imported 1.4 million ton of petrol worth $875 million, or $629 per ton. The imported petrol price last year was $1,000 per ton.

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