Petrol prices to go down from April 21: forecast
|Retail petrol prices in Vietnam is forecast to decrease from April 21 following falling prices in the world market.|
Retail petrol prices in Vietnam is forecast to decrease from April 21 following falling prices in the world market.
It is expected that the petrol prices may drop by 320-450 VND per liter, and oil prices by 100-400 VND per liter.
At the latest price adjustment on April 11 by the Ministry of Finance and the Ministry of Industry and Trade, the price of E5 RON 92 petrol was revised up by 1,090 VND (0.046 USD) per liter, to 23,170 VND per liter; RON 95 petrol by 1,120 VND per liter, to 24,240 VND per liter, and diesel oil by 710 VND per liter to 20,140 VND per liter.
In the world market, crude oil prices have plunged in recent sessions as investors are concerned about the possibility of interest rate hikes by the US Federal Reserve (Fed) as well as the precarious outlook of the global economy.
From the beginning of this year, the petrol prices have undergone 10 adjustments, with six times up, three times down, and once unchanged.
Regarding the cost of petrol and oil trading, the Government Office said that it has received an urgent request from several petrol and oil retailers dated March 10 to Prime Minister Pham Minh Chinh. They proposed to refund profits and business expenses to enterprises and amend/supplement two decrees on petrol and oil trading.
Deputy Prime Minister Le Minh Khai assigned the Ministry of Industry and Trade and the Ministry of Finance to review the proposal and give written responses to the enterprises, ensuring the legality and benefits of relevant parties.