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BackStories » Vietnam » Gas Prices in Vietnam Are the Lowest They've Been Since 2009

Yesterday, gasoline prices dropped to their lowest rate since August 2009.

According to VnExpress, Petrolimex released its new prices (per liter) for RON 92 (VND14,710), RON 95 (VND15,410) and bio-fuel E5 RON 92 (VND14,260). The company has adjusted its gas prices 15 times since numbers peaked in mid-2015, topping out at VND20,710 per liter of RON 92. This is the third reduction in price since the start of 2016.

Vietnam's Finance Ministry have required retailers to adjust their prices based on global gas costs. Per the ministry's stipulation, prices of RON92 and E5 RON92 must not climb above VND14,713 and VND14,263, respectively.

In addition to the new gas prices, Vietnam's gas stablization fund is also holding steady at VND4 trillion, as recorded at the end of 2015.

[Photo via Thanh Nien]

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