Petrolimex lowers retail prices of gasoline after three-month hike

By Bui Hong Nhung, Ha Phuong   June 20, 2016 | 04:15 pm GMT+7

Petrolimex Corporation, Vietnam’s top oil importer and distributor, reduced retail prices of gasoline by two percent while pushing up fuel prices by more than three percent.

The new price for gasoline is VND16,860 ($0.73) per liter for RON 95, down two percent; VND16,160 for RON 92, down 2.1 percent and E5 RON 95 is down 2.1 percent to VND15.640.

In contrast, the price for 0.05 percent sulfur diesel has been adjusted up 3.3 percent to touch VND12,290 per liter.

Kerosene’s price follows the same trend with a fall of 3.6 percent to stand at VND10,660 per liter.

Previously, June 4, prices for oil products rose from 1.41 percent to over 6.7 percent.

Vietnam’s oil product prices are adjusted every 15 days by the Ministry of Industry and Trade.