Vietnamese fuel distributors reduced the retail prices of gasoline by around one percent 3 p.m. Tuesday, the sixth consecutive drop in gas prices in two months, following a request by the Ministry of Finance and the Ministry of Industry and Trade.
The ministries attributed the change to a downward global trend.
State-owned Petrolimex, Vietnam’s leading fuel importer and distributor, reduced the prices of 92-octane (92 RON), the most popular grade of gasoline in Vietnam, and 95-octane (95 RON) by more than 0.6 percent (VND150) to VND23,560 (US$1.11) and VND24,160 ($1.14) per liter, respectively.
Diesel (0.05 percent sulphur content) fell 1.76 percent (VND380) to VND21,120 ($1) per liter, the firm said in a statement.
Meanwhile, the price of kerosene decreased by 1.47 percent (VND320) to VND21,350 ($1.01) per liter.
The Ministries of Finance and Industry and Trade ordered the decrease following a drop in world’s oil prices over the last month.
Gasoline prices in Vietnam have seen five hikes and six decreases this year.