3:45:03 PM | 11/11/2008
Petroleum traders in Vietnam Nov 8 decided to lower domestic retail prices by VND1,000 per liter depending on goods categories in line with the global crude oil price tumble to around 60/barrel, local media reported.
From 12:00 pm Nov 8, price of A95 gasoline was discounted VND1,000/liter or 6.66 per cent to VND14,500/liter, and A92 VND500/liter or 6.89 per cent to VND14,000/liter.
The VND1,000 reduction was also applied for diesel, kerosene and mazut, which are now being sold at VND13,000/liter, VND14,500/liter and VND10,500/liter, respectively.
This is the fifth time domestic petroleum prices have been cut since early Oct, but is the highest reduction compared to previous cuts of VND500/liter each.
On the same day, the government allowed the Ministries of Finance, and Industry and Trade to increase petroleum import tariffs of gasoline, kerosene and mazut by 5 per cent to 20 per cent and diesel by 5 per cent to 15 per cent.
The new import taxes will be applied from November 11.
The government also asked local petroleum traders to deduct VND1,000/liter of gasoline and VND500/liter of kerosene to offset losses for the state budget. (VNS, Pioneer)
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