Gasoline price lowered by VND250 per liter

The Price Management Department under the Ministry of Finance on Monday evening sent a document to gasoline traders asking them to lower petrol price by at least VND241 per liter by 8pm, and continue using money from the gasoline price stabilization fund at VND200 per liter.

The department’s aim is to share benefits and help consumers by easing burden after spate of recent storms and floods.

As for oil products, the department has asked gasoline traders to continue to seek a profit target of VND100 per liter for diesel oil and kerosene, and continue using the money from the gasoline price stabilization fund at VND300 per liter for diesel oil, VND700 per liter for kerosene, and VND200 per liter for engine oil.

Vietnam National Petroleum Group announced that from 8pm of November 11, it will cut gasoline price by VND250 per liter.

By Ngoc Quang – Translated by Thuy Doan

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