Petrol prices drop against projections of increase
The retail prices of petrol have been revised down from 3pm on February 21 by the Ministry of Industry and Trade, and the Ministry of Finance, although previous forecasts predicted that they are likely to increase.
Hanoi (VNA) - The retail prices of petrol havebeen revised down from 3pm on February 21 by the Ministry of Industry and Trade, and the Ministry of Finance, although previous forecasts predicted that they are likely to increase.
Accordingly, RON 95-III and E5 RON 92 petrol now cost 23,440VND (0.99 USD) and 22,540 VND per litre, respectively, both down 320 VND.
Diesel is sold at 21,860 VND per litre, dropping by 700 VND,while the price of kerosene decreased by 750 VND to 20,840 VND per litre. Meanwhile,the new price of mazut is 14,250 VND per kg, up 620 VND.
In this adjustment, the two ministries decided not to extract for or use the petrol price stablisation fund./.
In the latest petrol price adjustment on January 11 by the Ministry of Industry and Trade and the Ministry of Finance, the price of petrol remained unchanged compared with those of the last adjustment.
The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the US dollar which yields increased import prices.
The retail prices of petrol were revised up while prices of diesel, kerosene and mazut were lowered from 3pm on February 13 by the Ministry of Industry and Trade, and the Ministry of Finance.
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Illustrative photo (Source: VNA) 
