Gasoline in Vietnam is 27% cheaper than the world
After a record price drop to VND14,713 per liter, gasoline prices in Vietnam are now 27% cheaper than the world average.
Global Petrol Prices - a unit specializing in statistics on gasoline prices of countries around the world has just published a report on gasoline prices as of February 8.
Accordingly, the average price of gasoline in Vietnam is currently at 0.7 USD per liter. After the third consecutive decrease in 2016, the price of RON 92 gasoline is now only 14,713 VND. This is a record low price since 2009.
Compared to the world average of 0.96 USD, Vietnam's gasoline price is about 0.26 USD cheaper, equivalent to 27%.
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| Hung Binh Gas Station - Vinh City Photo: Hoang Vinh |
During the period from November 2, 2015 to February 8, 2016, the average price of gasoline in Vietnam was 0.78 USD. During the same period, the average price in the world was 1.18 USD.
Vietnam gasoline price compared to other countries in the world
Country name Gasoline price/liter
Vietnam 14,713 VND
US 11,869 VND
Venezuela 448 dollars
Malaysia 9,406 VND
Thailand 18,810 VND
China 20,155 VND
Korea 25,530 VND
In Asia, Vietnamese gasoline is much cheaper than in China (0.9 USD), South Korea (1.14 USD), Thailand (0.84 USD), Laos (1.11 USD), Cambodia (1.34 USD), Hong Kong (1.79 USD), Singapore (1.27 USD)...
Gasoline prices in European countries are quite high: Italy ($1.57), France ($1.41), Germany ($1.38)...
However, gasoline in Vietnam is still higher than about 37 countries in the world: Venezuela (0.02 USD), Brunei (0.38 USD), Malaysia (0.42 USD), Russia (0.46 USD), America (0.53 USD)...
Global Petrol Prices also said that gasoline prices differ significantly between developed and developing countries. Accordingly, developed countries often have more expensive gasoline prices while poor countries or large oil exporters have much cheaper prices. However, retail gasoline prices also depend on the protection policies and taxes of each country's government.
The US is an exception due to its tax and fuel subsidy policies.
According to vnexpress
