Hanoi [Vietnam], February 22: Vietnam has cut retail prices of gasoline and other oil products by up to 3.5 percent due to recent decreases in global oil prices, the Ministry of Industry and Trade said on Tuesday.
Diesel prices were down by 3.5 percent to 20,806 Vietnamese dong (0.87 U.S. dollars) per liter while kerosene lowered 3.46 percent to 20,846 Vietnamese dong, the ministry said in a statement.
Gasoline prices inched down by between 1.36 percent and 1.43 percent to 23,443 Vietnamese dong per liter for RON95 bio-fuel, and 22,542 Vietnamese dong for E5 RON92, said the statement.
The changes took effect from 3:00 p.m. local time Tuesday.
Local importers and distributors of oil products are allowed to set up a fund to keep retail prices stable. Petrolimex, the country's top fuel group, has grown a stabilization fund worth up to 2,118 billion Vietnamese dong. (1 U.S. dollar equals 23,800 Vietnamese dong).
Source: Xinhua
