Retail gasoline prices in Vietnam slipped by VND3,090-3,110 ($0.13) a liter on Monday, the second drop after seven consecutive hikes since late April.
This is a big reduction compared to the previous drop. On July 1, prices decreased by VND100-400 ($0.02) a liter.
The price of RON 95 and E5 RON92 gasoline fell by VND3,090 and VND3,110 to VND29,670 and VND27,780 ($1.19) a liter respectively, equaling the level recorded in mid March. Diesel oil dipped by VND3,020 to VND26,590 ($1.14).
Retail gasoline prices in the country have witnessed 18 adjustment in the year to date, including 13 hikes and five reductions.
CPI in the first six months rose 2.44% on average against the same period last year.
In their latest reports released last week, the World Bank and International Monetary Fund expect Vietnam’s 2022 inflation to be contained at a maximum of 4%, which is the State Bank of Vietnam's target.
VinaCapital on June 28 predicted Vietnam's inflation rate will average at 3.5% this year, with CPI peaking at around 5.5% year-on-year in the second half of 2022, and then falling back to 4.5% by the end of the year.