Slight drop in petrol prices

A customer buys petrol at a station in HCM City. - VNA/VNS Photo Thanh Vũ

HÀ NỘI — The prices of RON  九 二 petrol and biofuel E 五 fell by VNĐ 一 二 四 and VNĐ 九 七 per litre, respectively, as of  四: 五 五 pm on Friday.

Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.0 五S and kerosene also dropped by VNĐ 四 三 四 and VNĐ 一0 四 per litre respectively.

Under the decision, the maximum price of RON  九 二 and E 五 fuels will be VNĐ 一 七, 八 七 五 (US$0. 七 八) and VNĐ 一 七, 六 三 四 per litre, while the ceiling prices for diesel 0.00 五S and kerosene are VNĐ 一 四, 四 一0 and VNĐ 一 二, 九 九 九 per litre.

This is the  二0th adjustment of fuel prices this year. They have fallen nine times, increased seven times and remained unchanged twice.

The Ministry of Industry and Trade said in a statement published on the portal moit.gov.vn that the global average prices of RON  九 二 over the last  一 五 days until October  二0 was $ 六 六. 九 八 三 per barrel, while that of diesel 0.0 五S was $ 六 八. 一 四 二  per barrel.

The ministries also decided to use the price stabilisation fund for RON  九 二 at VNĐ 一 三0 per litre, and for E 五 biofuel remained at VNĐ 一 一0 per litre. The price stabilisation fund is used to stabilise petrol prices and avoid possible negative impacts on socio-economic development. The fund compensates importers for losses they incur because of low selling prices.

Việt Nam’s largest petrol retailer, Petrolimex, had recorded VNĐ 三. 一 九 trillion in its petrol price stabilisation fund as of yesterday, an increase of VNĐ 四 九 billion compared to the previous price adjustment on October  五.

Violators punished, shamed

To prevent illegal petrol dealing and protect the rights of consumers, the Ministry of Industry and Trade has asked local authorities to publicise the names of violating petrol stations on mass media.

The ministry has also asked local authorities to raise awareness among consumers and organisations so that they avoid buying petrol and petrol products from illegal businesses. Local departments of industry and trade have been told to increase inspections and closely monitor the market to prevent illegal trading of petrol products.

Local market watchdogs have also been told to enhance supervision and monitoring of petrol companies in their areas, identify those co妹妹itting violations, and work with relevant government agencies to inspect the quality of petrol and petrol products being sold in the market. — VNS