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Petrol,
oil prices to fall today
(01-10-2009)
HA NOI — The ministries
of Finance and Industry and Trade yesterday approved a cut in the retail price
of petrol from today.
The price will fall by
VND200 to VND13,800 per litre of kerosene, by VND300 to VND12,800 per litre of
diesel oil and by VND500 per litre to VND15,200 for A92 petrol. The price of
fuel oil remains unchanged at VND11,800 per litre.
This is the first
reduction in prices after seven increases since April.
Dealers still have to
contribute VND300 per litre of diesel oil to the petrol price stabilisation fund
and pay VND1,000 per litre of petrol for loans they receive from the State.
Domestic dealers were
asked to make the price cuts following recent falls in world petrol and oil
prices.
Singapore
prices
On Monday in Singapore,
which is a major supplier of fuel products to Viet Nam, the price for A92 petrol
was at US$66.7 per barrel, $70.78 per barrel for diesel oil and $408.76 per
barrel for fuel oil, a drop from the previous day.
Domestic dealers said
average prices of petrol and oil prices in the period from September 18 to 28
declined 11 per cent to $74.61 per barrel of A92 petrol, 6 per cent to $75.51
per barrel of diesel oil and 4 per cent to $427.8 per barrel of fuel oil
compared with the previous 10 days.
Retailers said there was a
clear trend of reduce in those prices and $66.7 for a barrel of A92 petrol was
the lowest for the last 30 days.
At the price, retailers
can make profits higher than the profit of VND301 calculated on September 18
when the Government decided not to reduce retail petrol prices, despite a fall
in wholesale prices.— VNS
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