Vietnam gasoline price drops fourth consecutive time
Retail gasoline prices in Vietnam slipped by VND450-470 ($0.02) a liter on Monday, the fourth consecutive drop since the beginning of July.
A gasoline station in Hanoi. Photo by The Investor/Trong Hieu.
The price of RON 95 and E5 RON92 gasoline fell by VND470 and VND450 to VND25,600 and VND24,620 ($1.05) a liter, respectively, equaling February levels.
Diesel oil dipped by VND950 to VND23,900 ($1.02), while kerosene dropped by VND710 to VND24,530 ($1.05) a liter.
Retail gasoline prices in the country have witnessed 20 adjustment in the year to date, including 13 hikes and seven reductions.
Vietnam's consumer price index in the first seven months rose 2.54% on average against the same period last year. Fluctuations in consumer prices are mainly caused by food and gasoline costs.
GDP in the second quarter of the year grew by 7.72% compared to the period last year, the highest in more than a decade. The figure in the first six months upped 6.42% year-on-year.
The World Bank and the IMF expect Vietnam’s 2022 inflation to be contained at a maximum of 4%, the State Bank of Vietnam target.
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