Petrol prices were cut by VND370-VND430/ litre when oil prices were increased by VND1,390-VND1,430 per litre in the latest adjustment made at 3:00pm on Monday by the Inter-Ministry of Industry and Trade - Finance, recording the first time that the prices of oil were more expensive than those of gasoline.

Specifically, the retail price of RON 95-III decreased to a maximum of VND 24,230 per litre while that of E5 RON 92 was slid to VND23,350 per litre.

Meanwhile, the prices of diesel and kerosene went up by VND1,430 and VND1,390 to VND25,180  and VND25,440 per litre, respectively.

After many consecutive periods of staying unchanged, the price of Mazut oil was set at VND16,070 per kg, a decline of VND470.

In this latest adjustment, the two ministries decided to extract VND100-300 per litre from diesel and kerosene prices for the fuel price stablisation fund.

Reporting by QUYNH TRANG - Translating by M.DUNG