The domestic retail price of petroleum was reduced by 136 VND, bringing it to 18,003 VND (80 US cents) per litre as of 3pm on October 19, the Ministry of Industry and Trade said.
The price of E5 RON 92 biofuel has also fallen by 26 VND to 17,618 VND (78 cents) per litre. However, the diesel price increased by 222 VND to 13,945 VND (61 cents) per litre. The price of kerosene also rose by 279 VND per litre, bringing it to 13,004 VND (57 cents), while the price of mazut has increased by 445 VND per kilogram to 9,887 VND (43 cents) per kilogram.
The ministry said the prices have been reassessed because the base price was lower than the selling price. It also decided to keep the stabilisation fund stable at 300 VND per litre.
The global petroleum price has been falling over the past two weeks with unpredictable changes. The petrol price in the world market surged from 45 USD to 50 USD a barrel and fell again.
This is the 14th revision of the petrol price this year.-VNA