Vietnam lowers petrol prices for fifth time

The retail price of gasoline and other petroleum products were cut by VND200-600 per litre beginning at 19:00, July 2.

Retail prices of petrol RON 92 cut by VND600 per litre

The retail price of gasoline and other petroleum products were cut by VND200-600 per litre beginning at 19:00, July 2 following the Ministry of Finance’s instruction.

Retail prices of petrol RON 92 were cut from VND21,200 to VND20,600 per litre.

Retail prices of diesel 0.05S and kesorene dropped by VND200, to VND19,900 and VND19,850 respectively and fuel oil 3.5 S came down by VND300 to VND17,650 per kilogramme.

In addition to the price cuts, the ministry decided to maintain the current contribution to the petroleum price stabilisation fund at VND300 per litre.

This is the 5th price cut in the local market this year, which came as a result of falling prices on the global market. In total the price of petrol has dropped by VND3,200 in 2012.