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Petrol cheaper as global price falls

Update: April, 27/2013 - 10:27
Motorcyclists refuel their bikes at a petrol station on Tran Hung Dao Street in Ha Noi. Petrol retailers yesterday cut prices by VND301 per litre after a request from the Ministry of Finance. — VNS Photo Truong Vi

HA NOI (VNS) — Petrol retailers yesterday cut prices by VND301 per litre in the wake of a request from the Ministry of Finance.

Accordingly, a litre of RON 95 is now priced at VND24,140 and RON 92 is VND23,640.

Prices of diesel and kerosene were also adjusted down VND90 and VND81 per litre to VND21,360 and VND21,519. Mazut remained unchanged.

Petrol retailers were required to make the cut from 4.30pm yesterday.

The ministry has also decided to increase import taxes on petrol and oil products by 2 per cent, lifting the duty on petrol to 16 per cent, diesel to 12 per cent, kerosene to 14 per cent and mazut to 14 per cent.

The ministry said that prices of petrol and oil products in the global market had declined and domestic retail prices were higher than their reference prices.

It was the third cut this month, helping prices fall by VND1,250 per litre. However, the combined cuts were still lower than a surge of VND1,430 per litre late last month which caused petrol prices to hit a record high of VND24,580, while diesel also rose VND362 to VND21,912. — VNS


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