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Petrol price cut by VND500 per litre

Update: April, 10/2013 - 08:44
Petrol retailers cut their price by VND500 per litre to VND24,050 yesterday after a request from the Ministry of Finance.—VNA/VNS Photo

HA NOI (VNS)— Petrol retailers cut their price by VND500 per litre to VND24,050 yesterday after a request from the Ministry of Finance.

The ministry cited lower prices of petrol and oil products in the global market and the fact that domestic retail prices were higher than the reference prices as the reason for the decrease.

Prices of diesel and kerosene were also lowered, going down VND450 per litre to VND21,450 and VND21,600 respectively.

Although import taxes on petrol and oil products remained much lower than the regulated levels, the ministry decided not to raise them in order to support local production and consumption.

Petrol prices hit a record high of VND24,580 per litre last month after a hike of VND1,430 per litre. — VNS



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