Vietnam Reduces Fuel Prices By Up to 5.3%

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Aug. 15 – Vietnam has reduced the price of gas by up to 5.3 percent beginning today. The new prices reflect the drop in world oil prices of more than 20 percent from July.

"The government has ordered us to reduce prices following world price declines," a Petrolimex official told Thanh Nien News.

A 92-octane petrol grade is now sold at VND18,000 per liter, a 5.3 percent decrease from VND19,000 while a 95-octane grade is being sold at VND18,500 per liter from VND19,300.

Oil product importer and retailer, Petrolimex is maintaing diesel at their current prices of VND15,950 per liter.

Vietnam is the region's second-biggest importer of gas and diesel.

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