Retail gasoline prices in Vietnam decreased by VND120 ($0.01) a liter on Wednesday, the second drop after a hike in mid February, while the price of oil went down by VND550 ($0.02).
RON 95-III gasoline dropped to VND23,320 ($0.98) per liter, while E5 RON 92 hit VND22,420 ($0.95).
Kerosene decreased by VND370 to VND20,470 ($0.86) a liter, while diesel oil fell by VND550 to VND20,250 ($0.85) per liter.
For this price adjustment, the Ministry of Industry and Trade and the Ministry of Finance decided to extract VND200-250 per liter 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.