Accordingly, the price of RON 95-III bio-fuel went down 1,080 VND per litre to 22,700 VND (0.92 USD) per litre, from 3 pm on December 1.

Illustrative image.

Meanwhile, the retail price of E5 RON 92 decreased by 1,000 VND to 21,670 VND per litre.

The price of oils also reduced sharply, with that of diesel oil cut by 1,590 VND to 23,210 VND per litre, and that of kerosene down by 1,080 VND to 23,560 VND per litre. Mazut oil was priced at 13,950 VND per kg, a decline of 830 VND.

The two ministries also determined to extract 300-400 VND per litre from petrol, diesel and kerosene prices, for the petrol price stabilisation fund.

Scrap special consumption tax on gasoline: VCCI

Reducing special consumption tax on gasoline to zero and cutting value-added tax by half will provide positive impacts amid global uncertainties, the Vietnam Chamber of Commerce and Industry (VCCI) proposed.

34 injured as gas pipe explodes at Samsung supplier

At least 34 people were hospitalized after a gas pipe at a factory of South Korea's electronic component producer Seojin Automotive Co. Ltd in northern Vietnam exploded.

Gasoline prices hit six-month low

Vietnam gasoline prices on Thursday dropped 3.6-3.8% to the lowest since Feb. 11 as global rates kept falling.

​Vietnam halves import tariff on gasoline to 10%

Vietnam halved its Most Favored Nation (MFN) tariff on gasoline to 10% Monday as it seeks to diversify supply.

Finance ministry proposes tax cuts on gasoline

The Ministry of Finance has apprised the government of its plan to reduce special consumption tax and value-added tax on gasoline to bring its prices down.

Source: NDO