Prices of oil and petrol products continued to decrease from 3pm on Saturday, following the latest price adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
The domestic retail price of petroleum decreased by VNĐ309 to VNĐ17,274 (77 US cents) per litre as of 3pm on Friday, the Ministry of Industry and Trade (MoIT) said.
The ministries of industry and trade and finance decided to raise retail petrol prices as of 3pm on Thursday.
The retail price of petrol fell VNĐ708 to reach VNĐ17,314 (US77 cents) per litre at 3pm on Tuesday.
More than 1,000 voluntary students and two ambassadors of the Earth Hour 2017 campaign last Saturday rode bicycles on several streets in the HCM City’s centre to call on residents to switch off lights and unnecessary electric appliances to save energy.
Việt Nam spent US$927 million on importing 1.66 million tonnes of petroleum products over the past two months, surging 2 per cent in volume against the same period last year.
The ministries of industry and trade and finance on Saturday raised retail petrol prices for the first time in 2017.
The Ministry of Finance has proposed, in a draft law, to almost triple the environmental protection tax on oil and gas consumption from the current VNĐ3,000 (US$0.13) to VNĐ8,000 per litre.
The prices of RON 92 petrol and bio-fuel E5 remained unchanged, while diesel price 0.05S increased slightly in the first regular adjustment of petrol prices in 2017 on January 4.