“A proposal of monthly gasoline price adjustment has been under careful consideration by Ministry of Trade and Ministry of Finance before submitting to the Prime Minister for approval” said Mr Hoang Tho Xuan, Director of Domestic Market Policy Department (Ministry of Trade).

November 22^nd 2005 was the first time Vietnamese government has acted on cutting back gasoline retail price for 500VND per liter. Although this reduction was not much, it created consumer’s confidence in governmental gasoline price control.