People buy petrol at a station in Vietnam.
The prices of E5 RON 92 petrol was reduced by VND490 to VND22,680 per litre while that of RON 95 petrol fell by VND610 to VND23,630 per litre.
Oil prices also went down, with those of diesel oil and kerosene cut by VND750 and VND259 to VND19,390 and VND19,480 per litre, respectively.
The two ministries have so far made 12 changes in fuel prices since the beginning of this year with seven increases and four decreases.
On Friday, the two ministries also decided to extract VND300 per litre from the prices of E5 RON 92, RON 95, diesel, and kerosene by making use of the petrol price stabilisation fund.