VINACHEM

Petrol prices reduced VND150-380 a liter on September 30 as per instruction by the Ministries of Industry and Trade, and Finance while gas retail prices saw an increase of VND333 a kilogram today.

According to announcement from the Vietnam National Petroleum Group, Ron 92 price has gone down VND150 per liter to VND23,560 and diesel down VND380 to VND21,120 a liter.

Kerosene and engine oil selling prices were lowered by VND320 a liter and VND240 to VND17,860 a kilogram.

That is the sixth continuous cut in the petrol prices since July 28 with the total reduction of VND2,080 a liter.

The price cut is in accordance with down trend in the world petrol prices. The ministries said that contribution rate by businesses in the price subsidization fund has remained unchanged.

Meantime, Saigon Petrol Company announced a fall of VND4,000 per 12 kilogram gas cylinder beginning October 1. The retailed price now swing around VND381,000 a cylinder.

Although the world gas prices have been announced to be fixed at US$750 per ton in October, a reduction of US$15 over September; domestic gas prices still hike because transport and additional fees have rocketed up, said Saigon Petro.