Vietnam gasoline price drops for first time in 20 days
Retail gasoline prices in Vietnam decreased by VND400-590 ($0.02) per liter on Monday, the first drop after two consecutive unchanges since June 12.
A motorcyclist refills at a gasoline station in Hanoi. Photo by The Investor/Trong Hieu.
RON 95-III gasoline dropped to VND21,420 ($0.91) per liter, while E5 RON 92 hit VND20,470 ($0.87).
Diesel oil declined by VND10 to VND18,160 ($0.77) a liter, while kerosene fell by VND30 to VND17,920 ($0.76) per liter.
To cover the price adjustment, Vietnamese authorities will not use the Fuel Price Stabilization Fund. Instead, they reduced provisions for the fund, from VND191 to VND0 for each liter of RON 95-III and from VND139 to VND0 for each liter of E5 RON 92.
Vietnam's consumer price index (CPI) in June rose 0.27% from May, according to the General Statistics Office. The major reason was rising food and electricity prices due to prolonged hot weather and state utility Vietnam Electricity (EVN) adjusting the average retail price of electricity.
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