Vietnam gasoline price drops after 2 consecutive hikes
Retail gasoline prices in Vietnam decreased by VND1,250-1,310 ($0.05) per liter on Thursday, the first drop after two consecutive hikes since early April.
A motorcyclist refills at a gasoline station in Hanoi. Photo by The Investor/Trong Hieu.
RON 95-III gasoline dropped to VND22,320 ($0.95) per liter, while E5 RON 92 hit VND21,430 ($0.91).
Diesel oil decreased by VND1,140 to VND18,250 ($0.78) a liter, while kerosene fell by VND960 to VND18,520 ($0.79) per liter.
For this price adjustment, Vietnamese authorities continued to avoid the Fuel Price Stabilization Fund. Instead, they increased provisions for the fund, from VND300 to VND500 for each liter of gasoline.
Consumer prices in April fell 0.34% from March, according to the General Statistics Office. The reasons are food prices fell due to abundant supply, tuition fees in some localities were revised down according to the government's Resolution No. 165/NQ-CP.
Average consumer prices in the first four months of this year rose 3.84% from a year earlier.
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