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The price of gasoline is reduced for the ninth time on November 7. — VNA/VNS Photo The Duyet
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HA NOI (Biz Hub) — The prices of RON 92 and RON 95 gasoline have been cut by VND950 to stand at VND21,390 (US$1.007) and VND21,990 per litre respectively, effective from 11am on November 7.
The current prices are equivalent to those in 2012.
The prices of 0.05S and 0.25S diesel varieties have also been cut by VND520 to stand at VND19,240 and VND19,190 per litre respectively. The prices of kerosene and mazut have been slashed by VND360 and VND900 per litre respectively.
The Viet Nam National Petroleum Group (Petrolimex) attributed the cuts to falling global prices. This is the ninth time that petrol prices have been reduced and the 14th adjustment this year.
The ministries of industry and trade also doubled the subsidy level for the petrol stabilisation fund to VND600.
The government's decree No 83 was released on September 3 to change the frequency of petrol price adjustment from 10 days to 15 days. — VNS