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As of 1500 (0800 GMT), a litre of 92-octane petrol was lowered by 10.29 percent to 17,880 dong ($0.84), while fuel oil was cut 11.4 percent to 13,130 dong per litre, the state-run firm which dominates domestic distribution networks said in a statement on its website
Diesel with 0.05 percent of sulphur was cut 7.7 percent to 16,990 dong per litre, the statement said. This is the second price cut in a month and the country's biggest adjustment of oil product prices in recent years.
Vietnam's annual inflation would likely stay under 3 percent in 2014, the lowest since 2003 based on government data, Prime Minister Nguyen Tan Dung has said.