Gasoline price in Vietnam hits record low following 10th cut
Gasoline price in Vietnam hits record low following 10th cut
The Vietnamese Ministry of Industry and Trade has slashed fuel prices for the tenth time this year, and the second within a fortnight, with the latest cut taking effect 11:00 am today, November 22.
RON 92 gasoline, the most popular petrol in Vietnam, lost VND1,140 a liter to go from VND21,390 to VND20,250 a liter, the lowest since 2011.
The respective price cuts for diesel oil, kerosene, and fuel oil are VND585 a liter, VND459 a liter, and VND536 a kg.
Diesel oil now sells at VND18,657 a liter, kerosene VND19,250 a liter, and fuel oil VND15,141 a kg.
The average price of RON 92 gasoline from November 7 to 21 dropped to only $87.659 a barrel, according to the trade ministry.
Vietnam has released ten price cuts since the start of this year.
On November 7, the trade ministry slashed fuel prices by VND360-950 a liter.
A92 gasoline prices have decreased by a total of VND5,390 a liter following ten drops.
Current regulations stipulate that Vietnam’s fuel prices can only be adjusted within a 15-day interval based on the price development of the global market, especially in Singapore, the country’s main source of fuel imports.
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