Vietnam gasoline prices slightly drop

Thanh Nien News

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Retail gasoline prices in Vietnam were reduced by between 0.1 percent and 0.71 percent, but prices of diesel oil and kerosene see further hikes.
According to a statement issued jointly by the Ministry of Finance and the Ministry of Industry and Trade, Vietnam's most popular gasoline grade 92-RON now sells at VND18,003 (around 81 cents) per liter.
Meanwhile, the new bio-fuel grade E5, which has been promoted by the government, is priced at VND17,618 per liter.
The new prices of diesel oil and kerosene are VND13,945 and VND13,004 per liter, respectively, posting an increase of between 1.6 percent to 2.1 percent.
FO (duel oil) price has been adjusted to VND9,887 per kilogram from the old price of VND9,442.
According to the statement, retailers continue to contribute VND527 from every liter of fuel they sell to the fuel price stabilization fund, which was established in 2009 to subsidize prices during periods of high global prices or when the government wants to keep prices low.
For E5, the fee is set at VND362 per liter.

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