Gasoline prices drop to 13-month low

By Anh Minh October 3, 2022 | 12:31 am PT

An employee pumps gasoline into a motorbike in Thu Duc City. Photo by VnExpress/Quynh Tran

Gasoline prices fell for the ninth time in a row to the same level as August 2021 with a liter of RON95 priced at VND21,440 ($0.9).

The most popular gasoline in Vietnam, accounting for around 60% of sales, declined by 5% from the previous adjustment on Sept. 21.

Biofuel E5 RON92 prices dropped 5.2% to VND20,730.

Diesel prices went down 1.47% to VND22,200.

The Vietnam Chamber of Commerce and Industry (VCCI) has recently proposed that the special consumption tax on gasoline be reduced to zero and value-added tax by half to provide positive impacts amid global uncertainties.

Global oil price on Monday climbed 2% toward $82 a barrel on indications the OPEC+ alliance is considering slashing production by more than 1 million barrels a day to revive plunging prices when it meets this week, according to Bloomberg.