The decision takes effect from 2 pm today, given the calculations of the Ministry of Finance - Industry and Trade within 2 days. Accordingly two leaders agreed on guidelines set down 800 dong from 22,700 dong to 21,900 dong for a liter of A92 gasoline. Similarly, diesel and fuel oil contract dropped 600, down turn, and 18,300 VND 20,600 VND per liter, oil was down 20 450 650 VND per liter.

At the same time, management agencies also import gasoline tax increase by 3% to 7%. Similar level adjustment is applied to the oils.

During an interview with VnExpress in Parliament recently, Finance Minister Vuong Dinh Hue said that the operating principle of fuel prices is to ensure harmonious state benefits third parties - business and consumers. With prices falling, depending on the situation will consider how much retail discount, how much to budget offset by tax increases.

The table compares retail gasoline prices
(Valid from 14h on 7/6)

(Unit: VND / liter, kg)

The reduction in gasoline prices is also seen as an inevitable result after the price of crude oil and petroleum products on world markets fell sharply in the past 30 days. Specifically, gas prices in the Singapore market finished down continuously from $ 122.75 on 7/5, down $ 104.91 a barrel on 4/6. According to the calculation of the petroleum business units, makes changes in the base price is lower than the selling price of about 900-1100, which helped these units profitable.

Since early 2012, gasoline prices increased by 2 times ( 7/3 and 20/4 ) with a total increase of 3,000 dong. Then, due to reduced movement of the world market, the domestic retail price is adjusted down 3 times ( 9/5 and 23/5 and today) with reductions totaling 1,900 dong. Meanwhile, import duties increased from 0% to 3%.