Petrol prices remain unchanged ahead of Lunar New Year

The Ministry of Industry and Trade and the Ministry of Finance announced that the prices of E5 are not higher than VND18,672 per litre, and those of diesel 0.05S and kerosene should not be higher than VND15,959 per litre and VND14,560 per litre, respectively. The changes took effect from 15:00 on February 3. Meanwhile, the two ministries also decided to adjust the price stabilisation fund for E5 bio-fuel at VND1,141 per litre while the use of the fund for diesel was VND678 per litre. The Ministries of Industry-Trade and Finance conducted a review of fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market. The average global price of petrol products during the last 15 days to February 3 was at US$78.039 per barrel for RON 92 and US$81.978 for diesel.  The two ministries decided to maintain the petrol prices to support production of domestic firms prior and control inflation to 2018 Lunar New Year. In 2017, petrol and oil prices were adjusted 24 times, including nine hikes and nine drops.


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