Fuel prices lowered as part of largest adjustment since early 2022

Fuel prices decreased by more than VNĐ3,000 (US$0.13) per litre on July 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

The price of RON95 fell by VNĐ3,088 to VNĐ29,675 per litre, whereas E5RON92 bio-fuel dropped by VNĐ3,103 to VNĐ27,788 per litre.

The prices of diesel DO 0.05s-II and kerosene were slashed by VNĐ3,022 and VNĐ2,008 to VNĐ26,593 and VNĐ26,345 per litre, respectively.

This was the first significant reduction in petrol prices after a series of hikes over the past months.

On July 8, the National Assembly Standing Committee issued Resolution 0/2022/UBTVQH15 at the Government’s request to reduce the environmental tax on petrol, oil and grease, helping curb the rises in domestic fuel prices.