Gov’t hopes diesel cuts will stimulate economy

The retail price of diesel oil fell by 1,000 VND per litre nationwide on Dec. 24, according to the Ministry of Finance’s Price Management Department.

A litre of diesel oil now costs 11,000 VND.

The plan for the price cut was submitted by the Vietnam National Petroleum Corporation (Petrolimex) and approved by the Price Management Department.

The new price of diesel oil is in force at all Petrolimex distributors and agents in the country.

“The price decrease for diesel oil reflects efforts to stimulate production, contributing to implementing the Government’s five key solutions to boost economic growth and prevent an economic slowdown,” said Petrolimex deputy general director Vuong Thai Dung.

“This also proves Petrolimex’s market-oriented price mechanism,” added Dung.

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