Petrol prices cut by VND1,900 per litre
The price of RON95 gasoline was slashed by VND1,900 down to VND16,270 on the afternoon of January 21, according to the Vietnam National Petroleum Group (Petrolimex).
RON92 and bio-fuel E5 also experienced a similar price cut, down to VND15,670.
Meanwhile, diesel prices were reduced by VND1,460, resulting in a cost between VND15,120 and VND15,170 per litre.
Kerosene now stands at VND 15,610, a reduction of VND 1,500, while fuel oil (FO) is priced at VND 11,750 to VND 12,220 per litre, VND 1,080 lower than the previous price.
Petrolimex attributed the move to the continued decline of global petrol prices, saying that these reductions are in line with regulations on petrol and oil prices stated in Government Decree 83/2014/ND-CP on September 3, 2014.
This is the fifth time the price of petrol and oil has been adjusted in accordance with the Decree.
In 2014, petrol prices were increased five times and have been cut twelve times since July with a total reduction of VND 7,769 per litre.