Nhan Dan Online - From 10am August 27, retail prices for petrol and kerosene will continue to be reduced by VND 1,000 a litre due to declining world oil prices, according to a decision jointly announced by the Ministry of Finance and Ministry of Industry and Trade today.

Accordingly, retail price of lead-free RON 92 petrol, most commonly used for vehicles, dropped to VND 17,000 a litre from VND 18,000 while a litre of kerosene is now sold at to VND 18,000 from VND 19,000.

Retail prices of fuel oil and diesel oil remained the same.

The decisions have been made due to decreasing world oil prices. With the current adjusting retail prices, petrol traders have continued to enjoy profits.

In the coming time, if the world oil prices continue to decline, the two ministries will not consider adjust retail prices but re-apply import tax on petrol, said Deputy Minister of Finance Tran Xuan Ha at the press briefing today.

This is the second reduction in retail oil and kerosene prices in August. On August 14, domestic retail prices of petrol and kerosene was also slashed by 1,000 VND a litre.

Thu Thin