Petrol retailers cut their price by 500 VND per litre to 24,050 VND on April 9 after a request from the Ministry of Finance.

The ministry cited lower prices of petrol and oil products in the global market and the fact that domestic retail prices were higher than the reference prices as the reason for the decrease.

Prices of diesel and kerosene were also lowered, going down 450 VND per litre to 21,450 VND and 21,600 VND respectively.

Although import taxes on petrol and oil products remained much lower than regulated levels, the ministry decided not to raise them in order to support local production and consumption.
Petrol prices hit a record high of 24,580 VND per litre last month after a hike of 1,430 VND per litre.-VNA