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The popular fuel E10 RON95 declined 3.73% to VND20,410 (US$0.78) per liter.
Biofuel E5 RON92 dropped 5.05% to VND19,730. Diesel fell 3.16% to VND21,170.
Globally global fuel prices have shown mixed movements over the past week compared with seven days earlier, influenced by U.S.-Iran negotiations, according to the Ministry of Industry and Trade and the Ministry of Finance.
To mitigate the impact of the evolving conflict in the Middle East, Vietnam will continue to reduce taxes on petroleum products to zero through the end of September, except for the special consumption tax on gasoline.
Approximately 980 million liters of biofuel were consumed nationwide during the first month after E10 gasoline was introduced for widespread sale. Of that total, E10 accounted for 924 million liters, or 96%, while E5 consumption reached about 56 million liters.
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People wait for refills at a fuel station in HCMC. Photo by VnExpress/ Quynh Tran |
Amid continued uncertainty in global energy markets, the Domestic Market Management and Development Agency under the Ministry of Industry and Trade has instructed fuel importers and distributors to develop supply plans to ensure uninterrupted fuel availability across their distribution networks.
Officials have also instructed businesses not to hoard fuel in anticipation of price increases or disrupt supply, and to ensure adequate deliveries to retail gas stations, particularly in remote and rural areas.
