Kerosene price falls for second time this year

Hanoi (VNA/VNS) - The State-owned Vietnam National Petroleum Corporation
(Petrolimex) continued to lower its retail price for kerosone, cutting it by 500 VND
(0.03 USD) per litre to 11,000 VND (0.63 USD) on March 5.

It was the second price cut this year following a reduction of 500 per litre on
February 20 to 11,500 VND.

The reduced price for kerosene did not have a great impact on the domestic market as
market shares for kerosene are relatively small. The price cut came after the
Ministry of Finance's Pricing Control Department called on kerosene traders to
consider reducing their retail prices.
Kerosene prices on the world market fell to around 50 percent USD per barrel
from 51 USD when the first domestic price cut was made. Petrolimex was the
first kerosene trader on the domestic market to cut its price, while Saigon
Petro was the second trader to follow.

Tran Minh Ha, head of Saigon Petro's business department, said the company also
reduced its retail price for kerosene by 500 VND per litre to 11,000 VND on March 5.

Petrolimex is the largest kerosene trader on the domestic market with a market share
of 70 percent. The domestic market has a demand of 300,000 tonnes of kerosene each
year.-Enditem