Retail gasoline and diesel prices declined slightly from 3:00 pm on July 1 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

Specifically, the retail price of RON 95 was reduced by VND110 per litre to VND32,760 per litre, whilst that of E5 RON 92 dropped to VND30,890 per liter, down VND410 per litre.

Meanwhile, the prices of diesel oil and kerosene are capped at VND29,610 per liter and VND28,350 per litre, down VND400 and VND430 per litre respectively.

Mazut oil witnessed the huge fall of VND1,010 per kg to VND 19,720 per kg in the latest adjustment.

At the latest adjustment, the Ministry of Industry and Trade and the Ministry of Finance decided not to use subsidies from the petrol price stabilisation fund for petrol.

VND100 per litre of E5 RON 92, VND300 per litre of kerosene, and VND800 per kg of mazut are still deducted into the stabilisation fund.

This was the first decrease in petrol retail prices after a series of 7 recent consecutive increases.

Reporting by THIEN NGUYEN - Translating by M.DUNG