Gasoline prices fall to a record low

The largest-ever price cut of RON92 is the 12th decrease since the beginning of the year, and the second cut in December by the Vietnam's leading fuel importer and distributor, following a decision by the Ministries of Industry and Trade and Finance.

Accordingly, the new retail prices for RON92 and biofuel E5 are VND 17,880/litre, while RON95 is to be sold at VND18,480 per litre.

Other prices also saw a drop between VND1,420 and VND1,690 per litre or kg-diesel fell to VND16,940 per litre (type 0.25S) and VND16,990 per litre (type 0.05S), while the price of kerosene decreased to VND17,400/litre, and to VND13,030-13,500/kg for mazut.

Petrolimex said that the record cut in gasoline prices comes from reduced oil and petrol prices on the world market. Currently, RON92 is sold at US$68.450/barrel, diesel 0,05S US$76.433/barrel, kerosene US$77.648/barrel and mazut US$345.224/tonne. The price of crude oil was reduced from US$110 a barrel at the end of June to below US$50 a barrel.

(Source: Nhandan Online)