The retail prices of petrol have seen the eleventh consecutive cut in 2014, slashed by VND320 per litre since 13:00 on December 6, announced the Vietnam National Petroleum Group (Petrolimex).
The retail prices of petrol have seen the eleventh consecutive cut in 2014, slashed by VND320 per litre since 13:00 on December 6, announced the Vietnam National Petroleum Group (Petrolimex).
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The adjustment pushed the price of a litre of RON 92 and RON 95 to VND19,930 and VND20,530 respectively.
After eleven rounds of cuts, petrol prices have been reduced by VND4,180 per litre.
A litre of diesel and kerosene was also cut by VND240 and VND280, respectively while mazut saw a reduction of VND320 per kilogram.
According to the Petrolimex, the cut is in line with principles for determining the sales price stated in the Government’s Decree 83/2014/ND-CP on petroleum business and a joint order by the Ministry of Finance (MoF) and Ministry of Industry and Trade, which asked fuel dealers to cut retail prices.
On the same day, the MoF told fuel wholesalers to limit their use of the fuel price stabilisation fund from VND600 to VND300 per litre to offset their losses.
(Source:Nhan Dan)
