Vietnam cut gasoline prices by at least VND300 per liter on Thursday evening, the first slash this month.

Wholesale fuel distributors are required sell the widely used 92 RON gasoline at VND24,270 per liter at the most, starting from 8:00 pm local time (13:00 GMT), according to a document released the same day by the country’s finance and trade ministries.

This is the first time gasoline prices have gone down since July 17 when sellers hiked them to a record high of VND24,570 per liter from the previous VND24,110.

Petrol prices have fallen three times and surged four times since the beginning of this year.

Fuel oil, which fuels trucks, ships and some cars, went down at least VND257 to VND18,513 per kilorgram at most following the release of the document.    

In the meantime the ministries demanded distributors keep kerosene and diesel fuel prices at VND22,020 and VND22,310 per liter, respectively.

(US$1 ~ VND21,000)