The Ministries of Finance and Industry and Trade required petrol retailers to slash their price by 300 VND per litre from 8pm on August 22.

Meanwhile, mazut was also asked by the two ministries to be priced down by 257 VND per litre.

This is the first time this month that fuel prices in Vietnam were lowered. The price of A92 petrol will now be sold at 24,270 VND per litre. On July 17, petrol prices hit a record high of 24,570 VND per litre. Since the beginning of this year, domestic petrol prices have increased tour times and decreased three times.-VNA