A number of petroleum companies have asked for approval from the Ministry of Finance to allow them to further increase the price of petrol and oil by VND500-1,400 per liter.
In case the ministry approves the increase, this will be the third hike on the price of petrol within only 20 days.
Companies like Saigon Petrol and Dong Thap Petroleum, have asked for permission to increase the price of Ron 92 gasoline by VND1,400 a liter and some kinds of fuel oil by VND500-800 on a liter.
A representative of the Vietnam National Petroleum Group said that they have calculated new methods to adjust the price of petrol and based on the new proposal, the increase rate will swing from 2.4-6.4 percent.
Companies have sort the hike in context to continuing increase in the prices of petrol and oil products in Singapore and the world market.
