Petrol prices climb for four consecutive times

The ministries of Industry and Trade and Finance decided to increase the prices of petrol in Vietnam for the fourth consecutive time as of 3 p.m. on June 27.

Particularly, the price of E5 RON92 gasoline was added VND868 per liter to VND14,258 per liter. The price of RON95-III gasoline surged VND893 per liter to VND14,973 per liter. Diesel oil 0.05S climbed VND599 per liter to VND12,114 per liter. Kerosene rose VND428 per liter to VND10,038 per liter. Mazut oil 180CST 3.5S emerged VND581 per kilogram to VND10,903 per kilogram.

According to the Ministry of Industry and Trade, the global petrol price in the past 15 days was influenced by economic factors and the Covid-19 pandemic, sometimes increasing and decreasing but the general trend was increasing. The average price of finished petroleum products in the world in 15 days before the gasoline price adjustment this afternoon has increased by 3.5-12.2 percent over the previous period.

Particularly, the average price of petroleum products was at US$44,397 per barrel for RON92 gasoline which is used to produce E5 RON92 gasoline, an increase of $4.828 per barrel or 12.2 percent over the previous period, and at $46,840 per barrel for RON95 gasoline, an increase of $4.42 per barrel or 10.42 percent over the previous period.

However, in this adjustment period, the ministries decided to adjust the prices of petroleum products following the solution that ensures that the domestic gasoline prices fluctuate with the trend of the global ones but lessens the negative impacts on the lives of people. The production and business activities of enterprises are showing signs of recovery but there are still many difficulties.