A worker refuels a vehicle at a petrol station in H\u01b0ng Y\u00ean Province. \u2014 VNA\/VNS Photo<\/p>\n
H\u00c0 N\u1ed8I \u2014 Retail fuel prices in Vi\u1ec7t Nam were sharply cut from 10pm on Wednesday after authorities tapped the petrol price stabilisation fund to curb costs amid volatile global markets.<\/p>\n
According to a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the price of RON95-III petrol \u2013 the most widely used grade \u2013 fell by VN\u01103,880 to VN\u011025,240 (US$0.95) per litre.<\/p>\n
E5 RON92 biofuel also dropped by VN\u01103,620 to VN\u011022,950 per litre.<\/p>\n
Oil products were reduced by between VN\u01104,240 and VN\u01107,970 per litre or kilogramme, depending on the product. Diesel now costs VN\u011026,470 per litre, kerosene VN\u011024,410 per litre and mazut VN\u011019,000 per kilogram.<\/p>\n
The adjustment marks the second time in more than three years that the Government has deployed the fuel price stabilisation fund within just two days. Under the mechanism, the fund is used at VN\u01104,000 per litre for petrol, kerosene and mazut, and VN\u01105,000 per litre for diesel.<\/p>\n
At a meeting with the national energy security task force on March 10, Prime Minister Ph\u1ea1m Minh Ch\u00ednh approved the immediate use of the fuel price stabilisation fund from March 11.<\/p>\n
Authorities have also moved to secure supply. Deputy Minister of Industry and Trade Nguy\u1ec5n Sinh Nh\u1eadt T\u00e2n said the Government had mobilised about four million barrels of crude oil from partners, enough to cover roughly 30\u201345 days of domestic demand depending on refinery output and domestic consumption.<\/p>\n
To support the market, the most-favoured nation import tariff on petrol and some blending materials has been cut to zero. Meanwhile, the Ministry of Finance is proposing to reduce the environmental protection tax on petrol and oil to zero from March 12, which could lower retail prices by around VN\u01101,000\u20132,000 per litre. \u2014 BIZHUB\/VNS<\/p>\n","protected":false},"excerpt":{"rendered":"A worker refuels a vehicle at a petrol station in H\u01b0ng Y\u00ean Province. \u2014 VNA\/VNS Photo H\u00c0 N\u1ed8I…\n","protected":false},"author":2,"featured_media":341878,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[17036,17024,17065,17067,72,3136,17049,17033,17032,113,17057,17054,17051,17016,17011,246,17061,17037,61,60,17015,326,709,17020,17027,17048,17031,17046,17059,17018,17047,17038,17035,17066,17034,1650,3767,112,17017,17062,17068,17014,17044,17040,17021,17026,17053,17060,17019,17052,17056,17064,17058,17045,17055,17029,17025,17063,17030,17023,17010,17070,17041,17069,17042,17012,17050,17028,17022,17043,17013,17039,3867],"class_list":["post-341877","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bao-online","tag-bao-vietnam","tag-bao-vn-net","tag-baovietnam","tag-business","tag-current-news","tag-current-news-headlines","tag-daily-nation-newspaper-headlines","tag-daily-nation-today","tag-economy","tag-english-daily","tag-english-news-headlines","tag-english-news-papers","tag-english-newspapers","tag-english-through-the-news","tag-environment","tag-govt-news","tag-headlines-news","tag-ie","tag-ireland","tag-latest-news-today","tag-life","tag-magazine","tag-nation-news-paper","tag-national-news-headlines","tag-national-news-in-english","tag-news-headline","tag-news-headlines-for-today","tag-news-highlights","tag-news-latest","tag-news-paper-online","tag-news-site","tag-news-website","tag-news-vn","tag-newspaper-headlines-today","tag-politics","tag-society","tag-sports","tag-the-vietnam-war","tag-the-vietnam-war-summary","tag-thongtanxavietnam","tag-tin-viet-nam","tag-tin-viet-nam-net","tag-tin-vietnam","tag-today-breaking-news","tag-today-headlines","tag-today-hot-news","tag-today-international-news","tag-today-news-headlines","tag-top-news-headlines","tag-up-to-the-minute-news","tag-viet-nam","tag-viet-news","tag-viet-to-english","tag-vietnam-conflict","tag-vietnam-culture","tag-vietnam-economy","tag-vietnam-exports","tag-vietnam-government","tag-vietnam-history","tag-vietnam-news","tag-vietnam-news-agency","tag-vietnam-people","tag-vietnam-plus","tag-vietnam-today","tag-vietnam-war","tag-vietnam-war-history","tag-vietnam-war-summary","tag-vietnamese-culture","tag-vietnamese-news","tag-vietnamese-to-english","tag-war-in-vietnam","tag-your-say"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/341877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=341877"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/341877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/341878"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=341877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=341877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=341877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}