Vietnam fuel price sees 8th straight drop
Retail gasoline prices in Vietnam slipped by VND450-630 ($0.03) a liter on Wednesday, the eighth consecutive decrease since the beginning of July and the lowest since the beginning of the year.
The prices of RON95 and E5 RON92 gasoline fell by VND630 and VND450 to VND22,580 and VND21,780 ($0.92) a liter, respectively.
Diesel oil dropped by VND1,650 to VND22,530 ($0.95). Kerosene also declined by VND1,970 to VND22,440 ($0.94) a liter.
Retail gasoline prices in the country have witnessed 24 adjustments in the year to date, including 13 hikes and 11 reductions.
The National Assembly on July 6 adopted lowered environmental taxes on fuel, applied from July 11 till the year-end, amid globally increasing oil prices that put pressure on inflation.
The tax cuts - the second this year after the first in April - are expected to help the Vietnamese economy better navigate a global situation in which oil prices have soared.
Vietnam's consumer price index in the first eight months of the year rose 2.58% on average against the same period last year. Fluctuations in consumer prices are mainly caused by food and gasoline costs.
The World Bank on August 8 put Vietnam's inflation forecast at 3.8% in 2022 due to higher prices of energy, lower than the State Bank goal of 4%. The figure is expected to rise to 4% in 2023, before subsiding to 3.3% in 2024.
The ADB on Tuesday said the country's inflation is anticipated at 3.8% in 2022 and 4% in 2023, adding that all figures are the same as in the report released in April.
The Trungnam Group's “shortcomings” have led to Vietnam Electricity (EVN) stopping purchase of 40% of its Trung Nam-Thuan Nam solar farm's capacity, says a deputy minister of industry and trade.
Energy - Sun, October 2, 2022 | 11:21 pm GTM+7
Vietnam earned $40.8 billion from exporting agriculture, forestry and fisheries products in the first nine months of this year, up 15.2% year-on-year.
Economy - Sun, October 2, 2022 | 2:22 pm GTM+7
Hanoi, Bac Ninh and Hung Yen authorities have committed to handing over 1,341 hectares of land, or 70%, before June 30 next year so the Hanoi Ring Road 4 project can break ground as scheduled.
Infrastructure - Sun, October 2, 2022 | 2:00 pm GTM+7
Three workers were conducting maintenance work on gas pipelines at Formosa’s thermal power plant in Ha Tinh province when an explosion occurred, killing one and severely injuring the other two.
Society - Sun, October 2, 2022 | 11:51 am GTM+7
Vietnamese regulators need to fasten and simplify legal steps to encourage public bond issuances as enterprises usually opt for private placements, say experts.
Finance - Sun, October 2, 2022 | 10:36 am GTM+7
Vietnam welcomed 1.87 million foreign visitors in the first nine months of the year, up 16.4 times year-on-year, with South Korea and the U.S. leading the pack.
Travel - Sat, October 1, 2022 | 8:26 pm GTM+7
Molex, a U.S. manufacturer of electronic, electrical and fiber optic connectivity systems, has expanded its manufacturing facility in Hanoi with solar panel installation.
Industries - Sat, October 1, 2022 | 6:46 pm GTM+7
State-owned Vietnam Electricity (EVN) has asked Trungnam Group to put the 172-megawatt capacity portion without a pricing mechanism of its 450 MW solar farm in Ninh Thuan into the competitive power generation market.
Energy - Sat, October 1, 2022 | 3:54 pm GTM+7
Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in An Giang province Friday, the company’s third in Vietnam.
Industries - Sat, October 1, 2022 | 3:06 pm GTM+7
A Dong Thap province court on Friday handed a death sentence to Nguyen Trung Thanh, chief accountant of Filipino-invested Pilmico Vietnam, on corruption charges.
Society - Sat, October 1, 2022 | 2:43 pm GTM+7
An appeals court in Hanoi has reduced the jail term for former deputy minister of health Truong Quoc Cuong to three years, one year less than sentence awarded by the court of first instance in May.
Society - Sat, October 1, 2022 | 11:05 am GTM+7
Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.
Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7
American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.
Energy - Fri, September 30, 2022 | 9:24 pm GTM+7