Retail gasoline prices in Vietnam decreased by VND780 ($0.03) per liter on Tuesday after a hike in mid March, while the price of oil went down VND800-1,250 ($0.05).
RON 95-III gasoline dropped to VND23,030 ($0.98) per liter, while E5 RON 92 hit VND22,020 ($0.93).
Kerosene decreased by VND1,250 to VND19,460 ($0.83) a liter, while diesel oil fell by VND1,200 to VND19,300 ($0.81) per liter.
For this price adjustment, the Ministry of Industry and Trade and the Ministry of Finance decided to maintain the level of deductions from different types of oil for the petrol price stabilization fund.
The consumer price index (CPI) in February rose 4.31% year-on-year. The reasons, according to the General Statistics Office, are domestic gas and petroleum prices having increased in line with world fuel prices, and the cost of housing rising due to increasing demand after the Lunar New Year holiday in January.