The price of RON95 gasoline was slashed by VND1,900 down to VND16,270 on the afternoon of January 21^st, according to the Vietnam National Petroleum Group (Petrolimex).

RON92 and bio-fuel E5 also experienced a similar price cut, down to 15,670 VND.

Photo for illustration. (Source: vtc.vn)

Meanwhile, diesel prices were reduced by VND1,460, resulting in a cost between VND15,120 and VND15,170 per litre.

Kerosene now stands at VND15,610, a reduction of VND1,500, while fuel oil (FO) is priced at VND11,750 to VND12,220 per litre, VND1,080 lower than the previous price.

Petrolimex attributed the move to the continued decline of global petrol prices, saying that these reductions are in line with regulations on petrol and oil prices stated in Government Decree 83/2014/ND-CP on September 3, 2014.

This is the fifth time the price of petrol and oil has been adjusted in accordance with the Decree.

In 2014, petrol prices were increased five times and have been cut twelve times since July with a total reduction of VND7,769 per litre./.

VNF/VNA