Total petrol import and production during the first four months of the year reached 7,88 million tonnes, or 9,93 million cubic metres with import accounting for 43.73 per cent.
Viet Nam will need to cut taxes and fees, in addition to using the petroleum price stabilisation fund petrol prices keep rising, said a leader from the Ministry of Industry and Trade.
The domestic retail price of petroleum fell by VND862 to touch VND16,504 per litre as of 3pm on Tuesday, the Ministry of Industry and Trade (MOIT) said.
The domestic retail price of petroleum increased by VND304 to reach VND16,675 (74 US cents) per litre as of 7pm today, the Ministry of Industry and Trade (MoIT) said.