Vietnamplus

Fuel prices were reduced in the latest review on August 11 by the Ministry of Industry and Trade and the Ministry of Finance, the fifth consecutive time and the fourth significant drop.

In the face of soaring fuel prices, Minister of Industry and Trade Nguyen Hong Dien proposed several measures for stabilising the market in the long run while fielding queries from full-time legislators on March 16.

With current supply capacity, the local shortage of petroleum will be soon resolved, and the supply and demand for the domestic market will be stable, according to Tran Duy Dong, Director of the Domestic Market Department, Ministry of Industry and Trade (MoIT).

Hanoi’s consumer price index (CPI) in May increased by 0.65 percent from the previous month, reported the city Statistics Office.

The prices of petrol and oil increased as from 15:00 of May 23 following a joint decision of the Ministry of Finance and Ministry of Industry and Trade.

Retail prices of RON 92 petrol and E5 bio-fuel increased by 441 VND and 392 VND per litre, respectively, from 16:45 pm on October 20.