Petrol retail prices are revised downward on November 21. (Photo: VNA)

Specifically, the price of E5RON92 bio-fuel was cut by 109 VND to no more than 19,343 VND (0.76 USD) per litre while that of RON95-III fell by 79 VND to 20,528 VND per litre at the maximum.

Diesel 0.05S and kerosene were priced at 18,509 VND and 18,921 VND per litre as the highest, falling 64 VND and 67 VND, respectively.

Meanwhile, mazut oil 180CST 3.5S was capped at 16,014 VND per kilogramme, up 5 VND.

The two ministries decided not to use the petrol price stabilisation fund for this adjustment.

The regulators said fuel prices were affected by China’s economic stimulus plan below investors’ expectations and ongoing conflict and military tensions across the globe.