Fuel wholesalers in Vietnam have cut the retail prices of petroleum products again, starting 12:00 pm on Monday, following a request by the Ministry of Finance.

The price adjustment was made amid downward global trends, the ministry said.

Specifically, the ministry requested that the retail prices of gasoline, diesel, kerosene, and fuel oil be cut by at least VND669, VND878, VND848, and VND724 per liter/kilogram, respectively.

The ministry also asked fuel distributors to trim their extraction of money from the price stabilizing fund for all petroleum products to VND100 per liter or kilogram from VND300 per liter or kilogram.

Consumers are helping feed this fund in that they automatically contribute VND300 to it whenever they purchase a liter or kilogram of fuel, as that amount has been included in the retail prices.

Since early this year, the retail gasoline price in Vietnam has been slashed seven times in a row, including three times in September alone, making a total decrease of VND2,750 per liter.

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