Petrol and oil prices keep falling

Monday, 02 February 2015

 The Ministry of Industry and Trade and the Ministry of Finance cut prices of petrol, kerosene and oil on the domestic market on July 2 following a fall in world prices.

    The price dropped by 600 VND per litre to 20,600 VND for A92 petrol, by 300 VND per litre to 17,650 VND for fuel oil, by 200 VND per litre to 19,900 VND for diesel oil, and to 20,050 VND for kerosene.

    Tran Ngoc Nam, deputy general director of the Vietnam National Petroleum Group (Petrolimex), said on the world market, the price of crude oil fell by 1.73 per cent to 83 USD per barrel on July 2 against the previous day, the lowest rate since April last year.

    The latest reduction was the fifth time since the beginning of the year. The previous fall was on June 21.

    The two ministries decided to maintain the 300 VND per litre contribution of petrol companies to the petrol price stabilisation fund.

    The ministries plan to increase the import tax for petrol and oil products by 2 percent in the future.

T.N (Source: VNA)