Fuel prices in Vietnam make deep decrease today

September 03, 2015 | 17:00

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Following months of keeping the fuel prices high despite of steady decreases in the world, Vietnam today announced to pull down the prices of fuel from 111 dong to 1,198 dong per liter. A US dollar equals around VND22,500.

The new prices are applicable from 3:00pm today, according to the Ministry of Industry and Trade and the Ministry of Finance.

According to the decision, the retail prices of RON92 and E5 fuel will fall VND1,198 dong per liter, making them no more than VND17,338 a liter for RON92 and VND16,843 a liter for E5 as of today afternoon.

Similarly, the new prices per liter of diesel 0.05S are no higher than VND13,310, kerosene at VND12,286, and mazut 180CST 3.5S at VND9,351.

In several recent months, the oil prices in the world market have kept on decreasing steadily but Vietnam decided to keep the prices almost unchanged by lifting up environmental tax from 1,000 dong to 3,000 dong per liter from May 1.

Vietnam has to import 70 percent of its fuel demand, mostly from Singapore, or some 38 million liters of fuel on a daily basis, to meet the demand of its population of 90 million. On average, each Vietnamese spends 0.42 liter of fuel daily.

Tuoi Tre

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