Vietnam National Petroleum Group has cut the retail price of gasoline A92 by VND770 a liter to VND17,230 since yesterday afternoon.
Ethanol gasoline price was also cut VND881 a liter and mazut slid VND316 a kilogram.
Diesel price reduced VND430 a liter to VND13,510 while kerosene dropped VND480 to VND12,520.
Beside price reduction, Ministries of Finance and Industry and Trade also instructed businesses to contribute VND300 a liter of mineral gasoline to the price subsidization fund, up VND100 over before, and keep the contribution level unchanged to other petrol products.
Gasoline price has been cut seven times this year totaling VND4,307 a liter of Ron 92. It was slashed VND136 a liter in the latest reduction in October.