Vietnam lowers petroleum prices for the third time

As of June 7th, Vietnam’s Ministry of Finance lowered petroleum prices by VND650-VND800 (US$0.031-0.038) per liter, the third price cut in the country after two price hikes since the beginning of this year. The Vietnamese government also decided to maintain its contribution to the petroleum price stabilization fund at VND300 (US$0.014) per liter. (June 8, 2012)