Vietnam plans to build another oil refinery plant to avoid dependence on petrol imports in the long term.

The latest price adjustment marked the first decline in 2022 after six consecutive rises.

The company sold more than 50,000 metric tons of polyolefin products in Vietnam in 2021 and aims to increase sales in the country by 30% in 2022.

With such decreases, petrol prices have fallen below the VND30,000-mark per liter for the first time in almost four months, equivalent to the mid-March prices.