Motorists cash in on petrol price cuts

December 1, 2008 in Uncategorized
Tags: Add new tag, cash, cuts, Motorists, petrol, price

The Ministries of Industry and Trade, and Finance have announced they are to slash the retail prices of petrol and fuel nationwide by between 500-1,000 VND (0,06 USD) per litre, as of Dec. 1.

As a result, a litre of A92 petrol unleaded will now cost 12,000 VND, down from the previous price of 13,000 VND.

The new price for a litre of diesel oil will be 12,000 VND, down from 13,000 VND and the cost of kerosene has fallen from 13,500 VND to 13,000 VND.

The Ministry of Finance also announced that import taxes are to be raised from 25 percent to 35 percent for petrol and kerosene. The new import tax rates will be applied starting Dec. 2.

These adjustments have been made in the wake of a drop in prices in the global markets and are aimed at increasing the benefits to the State in the form of increased tax revenues and to consumers and enterprises, who will pay less for their fuel at petrol stations across the country .-