Gasoline prices slashed by 1.2 cents

Tuesday, Nov 12, 2013 15:18

Customers fill up at a Petrolimex gas station. Retail gasoline prices have been cut by 1.2 cents per litre. — Photo

HA NOI (Biz Hub) ― Key petroleum dealers slashed retail gasoline prices by 250 dong (1.2 US cents) Monday evening following a Ministry of Finance order to support consumers after storms and floods continuously raged the country.

At the Viet Nam National Petroleum Group (Petrolimex), prices are now VND24,130-24,160 ($1.149-1.150) for a litre of RON 95 gasoline and VND23,630-24,100 ($1.125-1.148) for a litre of RON 92. Saigon Petro made a similar cut.

The price of a litre of RON 92 was 241 dong higher than the average price for 30 days since October 12. The ministry asked dealers to cut prices by amounts equal to or more than this surplus.

It said the surplus was only enough for businesses to stop using price-stabilisation subsidies, but the adjustment was necessary to share difficulties with customers in the current context.

This is the third consecutive gasoline price reduction in the last two and a half months. ― VNS

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