Vietnamese fuel retailer cut prices on E5 to pre-empt government move

In Vietnam, fuel retailers are cutting the prices of biofuels at the pump in an attempt to boost demand. Petrolimex cut the price of E5 by 2% last Thursday while keeping the price of other fuel products the same. The cut to E5 prices was due to falling oil prices, so the move sought to make the ethanol blend more competitive. The country’s prime minister recently moved to make the price of ethanol-blended fuel cheaper than pure gasoline.