Vietnam cuts petrol prices for third time in 3 weeks

Thanh Nien News

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Motorbikes waiting to refuel at a gas station in Hanoi. Photo: Ngoc Thang Motorbikes waiting to refuel at a gas station in Hanoi. Photo: Ngoc Thang

Petrolimex, Vietnam’s leading fuel importer and distributor, cut its retail gasoline prices by nearly 2.5 percent Monday, the third reduction in the price of petrol since July 28.

The retail prices of 92-octane (92 RON), the most popular grade of gasoline in Vietnam, fell to VND 24.210 (US$1.14) a liter -- effective 3 p.m. Monday.

Diesel and kerosene prices were also cut slightly by 0.4 percent to VND22,090 per liter and 0.35 percent to VND22,260 per liter, respectively.

News website VietNamNet cited fuel distributors as saying that gasoline prices would see more cuts in the future.

The cuts represented the 13th adjustment of fuel prices this year. The three recent reductions amounted to VND 1,430 -- nearly canceling out the five preceding hikes, which amounted to VND1,450.

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