Vietnam slashes petroleum retail price
Friday, 15 August 2008
HANOI, Aug. 14 (Xinhua): Vietnam lowered its retail price of standard petroleum by nearly 5.3 per cent from Aug. 14 due to dropping world oil prices, the country's Finance Ministry announced today morning.
The retail price of A92 petroleum, most commonly used by vehicle drivers in Vietnam, declined to 18,000 Vietnamese dong ( VND) (nearly 1.1 U.S. dollars) per liter from previous 19,000 VND (over 1.1 dollars). On July 21, Vietnam raised the price by 31 per cent, mainly to lower state subsidy and prevent smuggling of the product to neighbor countries.
The retail price of A92 petroleum, most commonly used by vehicle drivers in Vietnam, declined to 18,000 Vietnamese dong ( VND) (nearly 1.1 U.S. dollars) per liter from previous 19,000 VND (over 1.1 dollars). On July 21, Vietnam raised the price by 31 per cent, mainly to lower state subsidy and prevent smuggling of the product to neighbor countries.