Domestic petrol prices drop for eight consecutive time

Thursday, 2014-10-23 21:44:31
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NDO - The retail prices of RON 92 and RON 95 petrol have been cut for the eighth time in a row in 2014, down by VND550 per litre.

The cut was effective from 18h00 on October 23, pushing the price of a litre of RON 92 and RON 95 to VND22,340 and VND22,940 respectively.

After eight rounds of cuts, petrol prices have been reduced by VND3,300 per litre.

Diesel and kerosene were also reduced by VND480 and VND440 per litre while a kilogram of mazut was down by VND560.

According to Petrolimex, the largest oil distributor in Vietnam, the latest round of fuel price cut came as global oil prices continued to decline.

Recent fuel price cuts have helped ease inflation, which fell to 3.62% in September compared with a year earlier.

Latest data by statistical agencies in Hanoi and Ho Chi Minh City showed transport costs in these two cities in September were down by 1.07 % and 1.11% over the previous month.