Oil prices cut for 13th time amid global dip

VGP – The Viet Nam National Petroleum Group (Petrolimex) reduced retail prices for a number of fuel types since 15:00, December 22.

December 22, 2014 2:02 PM GMT+7

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Retail price of RON 92 petrol, the most commonly used fuel in Viet Nam, went down by VND 2,050 per liter (10%) to only VND 17,880 per liter.

The price for diesel was slashed by 8% to VND 16,990 per kilogram and that of mazut was reduced to VND 13,130 per kilogram. Kerosene now costs VND 17,400 per kilogram, down 8% from earlier.

Petrol wholesalers are allowed to expand the price stabilization fund by extracting VND 800 per liter or kilogram for all types of fuel.

After 13 consecutive cuts, total petrol price was reduced by VND 7,760 per liter; followed by diesel, VND 5,830; mazut, VND 5,560 per kilogram; and kerosene, VND 5,550 per kilogram.

Petrolimex also announced that the retail gasoline prices fell to a four-year low following the global downward trend./.

By Khanh Phuong