Gasoline price drops VND390 per liter

Vietnamese fuel traders lowered gasoline price by VND390 per liter on October 7 after the Ministries of Finance, and Industry and Trade ordered them to cut rate by at least VND387 per liter and continue to use VND300 per liter from the gasoline price stabilization fund.

Thus, after adjustment, retail price of RON92 gasoline will be VND23,880 per liter and retail price of RON95 gasoline will be VND24,380 per liter.

As for diesel, according to calculations by the ministries, price must be raised by VND517 per liter, at the most. However, in order to stabilize diesel price and share benefits harmoniously among the government, consumers, and businesses, the ministries ordered fuel companies to maintain same rate.

The ministries also ordered fuel companies to keep their target profits at VND100 per liter and use VND300 per liter from the gasoline price stabilization fund instead of VND400 per liter like before.

The price of kerosene and engine oil will also remain unchanged.

By Ha My – Translated by Thuy Doan

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