Gasoline prices down 8th time in 3 months
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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.
Questions & Answers
Q.What is the new price for a litre of RON95 gasoline after this reduction?
What is the new price for a litre of RON95 gasoline after this reduction?
Following the recent price adjustment, RON95 gasoline now costs VND22,580 per litre. This represents a 4.21% decrease from its previous price, effective from 3 p.m. Wednesday, aiming to manage inflation and encourage spending.
Q.By what percentage have gasoline prices fallen from their highest point this year?
By what percentage have gasoline prices fallen from their highest point this year?
Vietnam's gasoline prices have fallen by 31.31% since their peak on June 21st this year. This latest reduction contributes to the overall decline in fuel costs over the past three months, supporting economic stability.
Q.What potential economic risk has the Asian Development Bank highlighted for Vietnam?
What potential economic risk has the Asian Development Bank highlighted for Vietnam?
The Asian Development Bank warned that Vietnam could face numerous inflationary risks this year. This is primarily due to the rising commodity prices globally, despite recent domestic efforts to lower fuel costs.
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