Vietnam cuts retail fuel prices slightly
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Vietnam has cut retail prices of gasoline and other oil products by up to 3.5 per cent due to recent decreases in global oil prices, the Ministry of Industry and Trade said.
Diesel prices were down by 3.5 per cent to 20,806 Vietnamese dong ($0.87) per litre while kerosene lowered 3.46 per cent to 20,846 Vietnamese dong, the Ministry said in a statement on Tuesday.
Gasoline prices inched down by between 1.36 and 1.43 per cent to 23,443 Vietnamese dong per litre for RON95 bio-fuel, and 22,542 Vietnamese dong for E5 RON92, the statement added.
The changes took effect from 3 p.m. local time on Tuesday, Xinhua news agency reported.
Local importers and distributors of oil products are allowed to set up a fund to keep retail prices stable. Petrolimex, the country's top fuel group, has grown a stabilisation fund worth up to 2,118 billion Vietnamese dong. (1 US dollar equals 23,800 Vietnamese dong).
