Petrol prices drop slightly

VGP - The retail prices of petrol and diesel were reduced by VND 300-600 per liter at 3:30 pm on May 23, according to the Ministry of Finance (MoF).

May 23, 2012 4:53 PM GMT+7

The move was made following a joint decision between the MoF and the Ministry of Industry and Trade (MoIT).

The price of A92 petrol decreased VND 600 from VND 23,300 to VND 22,700 per liter, while diesel fell from VND 21,600 to VND 21,200 per liter.

The costs of kerosene and fuel oil were lowered by VND 300 per liter to VND 21,100 and VND 18,900 respectively.

Along with the price reduction, the MoF raised import duties by 2% and 1% on petrol and diesel, respectively. Meanwhile, import duties of kerosene and fuel oil remain unchanged.

Prices of oil products have declined sharply compared with the same period last month in which petrol down 7.52%; diesel 5.06%; kerosene 5.12%; and fuel oil 5.98%./.

By Khanh Phuong