Vietnam’s petrol prices dropped for the fourth consecutive time on Monday afternoon, with the popular RON95 gasoline now selling at VND21,440 (US$0.9) per liter.
Fuel retailers from 3:00 pm cut the price of RON95 gasoline by VND1,140 per liter to VND21,440 per liter. ($1 = VND23,905)
E5RON92 price was also slashed by VND1,050 per liter to VND20,730 per liter.
Diesel oil now costs VND22,200 per liter, a decline of VND330 per liter.
Authorities had used the petrol price stabilization fund at a rate of VND300-600 per liter.
The continuous fall in gasoline prices is good news for many people as it helps reduce the prices of input materials in production, business operations, and services.
However, this decrease puts great pressure on the operations of petroleum businesses.
Many companies are worried that if this situation persists for the next one or two months, many filling stations may have to close for failure to offset operating costs and disruptions to the supply chain.