Gasoline and oil prices were simultaneously slid by more than VND1,000/ litre  in the latest adjustment made at 3:00pm on Monday by the Inter-Ministry of Industry and Trade – Finance.

Specifically, the retail price of E5RON92 gasoline was cut by VND1,128/liter to a maximum of VND22,231/liter, whilst that of RON95-III gasoline is now fixed at VND23,215/liter, a decrease of VND1,015 /liter.

All kinds of oil also fell sharply. The prices of 0.05S diesel and kerosene went down by VND1,008 and VND1,027 to VND24,180/litre and VND24,418/litre, respectively.

Meanwhile, the price of Mazut oil was set at VND15,039/ kg, a decline of VND1,038.

According to the Ministry of Industry and Trade, the decline in petrol and oil prices was mainly attributed to the continuing appreciation of the US dollar, so central banks in many countries have applied the policy of raising interest rates to control inflation. Also, the still tense pandemic situation in China and the increase in US crude oil inventories were among reasons for drop in fuel prices.

Reporting by QUYNH TRANG - Translating by M.DUNG