Tuesday , December 6 2022

Gasoline prices down 8th time in 3 months

Vietnam has cut gasoline prices for the eighth time in the last three months, seeking to contain inflation and boost consumption amid global economic woes.

From 3 p.m. Wednesday, RON95 gasoline prices fell 4.21% to VND22,580 ($0.95) per liter.

Prices for biofuel E5 RON92 dropped 2.42% to VND21,780.

This means Vietnam’s gasoline prices have fallen by 31.31% since this year’s peak on June 21.

Diesel prices dropped 6.82% to VND22,530.

Vietnamese authorities said they adjusted down prices because global fuel prices have fallen by 3-10% in the last 10 days.

The Asian Development Bank (ADB) warned Wednesday that Vietnam might face many inflationary risks this year due to rising commodity prices globally.

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