Deep cut made in gasoline prices

By Manh Quan, Thanh Nien News

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Fuel retailers cut prices for the fifth time this year on Tuesday afternoon. Photo: Ngoc Thang 
Price at the pump across Vietnam fell by more than 4 percent this afternoon, the fifth and the largest price cut this year, as global rates continued to fall.
The cut was decided by the Ministry of Industry and Trade and the Ministry of Finance.
The country’s most popular gasoline grade 92 RON now sells at VND19,300 (88 US cents) a liter and grade 95 RON sells at VND19,900 (91 cents).
The price of E5, the new bio-fuel grade which has received so many promises of price support from the government, also decreased by 4.1 percent to VND18,800 (86 cents).
Diesel prices went down by 5.5 percent to around VND13,860 (64 cents) a liter and kerosene fell by 4.5 percent to VND13,110 (60 cents).
Fuel prices have increased four times and decreased five times this year.

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