Retail prices of petrol were revised down on December 7 in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
Those of RON 95-III and E5 RON 92 were cut by 668 VND and 509 VND to 22,322 VND (0.92 USD) and 21,290 VND per litre, respectively.
Meanwhile, the prices of diesel, kerosene and mazut were reduced to 19,721 VND, 20,922 VND and 15,527 VND per litre or kilogram respectively.
The ministries decided not to use the petrol and oil price stabilisation fund.
Since the beginning of this year, petrol prices have undergone 35 adjustments, with 18 up, 13 down, and four unchanged.
The price adjustment is intended to ensure that the fluctuation of petrol and gas prices in the country is in line with changes in prices in the world while encouraging the use of biofuel as well as minimising negative impact on socio-economic development, production and business activities, among others.