Vietnam Cuts Diesel Oil, Kerosene Prices

The Ministry of Finance announced that domestic retail prices of diesel oil and kerosene are reduced by VND400 per litre and VND300 per litre, respectively from October 10, 2011. Accordingly, diesel oil price was reduced from VND20,800 to VND20,400 per litre while kerosene fell from VND20,500 per litre to VND20,200.

 

The ministry said the price cuts, which took effect at 11 a.m. local time on October 10, followed recent drops in global oil prices.

 

However, prices of A92-grade gasoline was kept unchanged at VND20,800 per litre, which was cut last August. Petrol companies will continue to pay VND300 to the Price Stabilisation Fund for each litre of petrol sold. Tax rates on petroleum products were kept unchanged.