The retail prices of gasoline and other products in Vietnam fell by more than one percent Monday following a request from the ministries of Finance, Industry and Trade.
State-owned Petrolimex, Vietnam’s leading fuel importer and distributor, reduced the prices of 92-octane (92 RON) and 95-octane (95 RON) gasoline by around 1.3 percent to VND25,310 (US$1.19) and VND25,810 ($1.21) per liter, respectively.
It was the first time that gasoline prices fell this year, after five consecutive hikes.
Diesel (0.05 percent sulphur content) fell 1.54 percent to VND22,330 ($1.05) per liter, the firm said in a statement.
The price of kerosene decreased by 1.54 percent to VND22,406 ($1.05) per liter.
The Ministries of Finance and Industry and Trade ordered the decrease following a drop in world’s oil prices on July 18.