The Ministry of Finance yesterday instructed businesses to cut petrol prices by VND670 per liter, marking the 7th consecutive reduction this year.
Retailed prices were cut VND670 per liter of Ron 95 and Ron 92 gasoline. Diesel and kerosene prices reduced VND880 and VND850 a liter respectively. Engine oil price went down VND730 a kilogram.
In addition, the ministry ordered businesses to reduce contribution rate to the price subsidization fund by VND200 to only VND100 a liter or kilogram of petrol products.