Vietnam Cuts Retail Petrol Price on Global Fall
Vietnam cut retail price of petrol by nearly 4 per cent last Saturday, following lower world oil prices.
The Ministry of Trade said the most popular Mogas 92 gasoline was reduced to VND10,100 a liter (63 US cents), down VND400 a liter. The Mogas 90 and Mogas 82 gasoline was sold at VND9,900 and VND9,7000, also down VND4 a liter, respectively.
The slight decrease resulted from low global crude oil prices, which have stayed below the $60 per barrel benchmark, said the ministry.
Early last week, the government also raised the import duty on gasoline and solvents used for blending gasoline to 15 per cent from 10 per cent following a slump in world oil prices.
For the time being, the government regulates retail prices of oil products and import tariffs in tune with world crude price movements.
Without major refining facilities, Vietnam relies almost entirely on oil product imports.
This year, it plans to import 13.5 million metric tons of petroleum products, up from 11 million metric tons in 2006.
(VnExpress)
Vietnamese
