Vietnam reduces retail price of petroleum products

Vietnam reduced the retail price of A92 gasoline, which is most commonly used by motorbike drivers in the country, by 500 dong (US$0.03) to 15,200 dong (US$0.85) a liter, Vietnam News Agency reported. The price of kerosene dropped by 200 dong (US$0.01) to 13,800 dong (US$0.77) a liter, said the report. The price adjustment is the first reduction after a series of seven increases since April. Vietnam decided to lower the price of petroleum products following the recent decline of global crude oil prices, said the report. (October 1, 2009)