Vietnamese paying less at the pump following drop in oil prices

By Ha Nguyen, Thanh Nien News

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Retail gasoline prices in Vietnam decreased by more than two percent on Friday in the last fuel price adjustment of this year, following the global downward trend.
Vietnam's most popular gasoline grade 92-RON now sells at VND16,405 (73 US cents) per liter.
Meanwhile, the bio-fuel grade E5, which has been heavily promoted by the government, is priced at VND15,910 (71 cents), down 2.3 percent.
The price of diesel oil was reduced by 9.4 percent to VND11,984 (53 cents) per liter.
Kerosene and mazut prices also enjoyed decreases between 9-10 percent to stand at VND11,065 (49 cents) and VND8,162 (36 cents) per liter.
Fuel prices in Vietnam are reviewed for adjustment every 15 days by a joint task force from the Ministry of Finance and the Ministry of Industry and Trade.
The ministries said the price of 92-RON gasoline in Singapore, Vietnam’s major supplier, was sold at $53.3 a barrel on average over the last 15 days, down around 4 percent from the previous fifteen-day period.
This year gasoline prices in Vietnam have been adjusted 17 times, including six hikes.

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