Ministry of Finance and the Ministry of Industry and Trade have instructed businesses to lower the retail price of gasoline by VND700 a liter from 4pm Monday.
|Petrol price reduced further by VND700 a liter from 4pm on June 21 (Photo: Uyen Phuong)|
One liter of Ron 92 gasoline will now cost VND21,200.
Price of diesel and kerosene also fell by VND400 and VND350 to now retail at VND20,100 and VND20,050 a liter respectively.
Price of engine oil dropped by VND300 to cost VND17,950 a kilogram.
Import tariff on petrol has increased by 3 percent to a current 10 percent.
Kerosene and engine oil tariff will also go up by 2 percent to reach 10 percent, and the same on diesel which will go up to 8 percent.
Over the last two months, petrol price has reduced four times, totaling to a reduction of VND2,600 a liter as of today’s date.
Second reduction in petrol price in 2012