At the adjustment, the petrol price rose marking the second increase in 2025.
At 3 p.m. on January 9, 2025, the retail prices of E5RON92 bio-fuel and RON95-III rose by VND374 and VND273 to VND20,431 (US$0.80) and VND21,019 (US$0.82) per liter, respectively.
Other kinds of fuel were adjusted to increase as well. Accordingly, 0.05S diesel and kerosene rose by VND488 and VND410 to VND19,243 (US$0.75) and VND19,244 (US$0.75) per litter respectively while Mazut 180CST 3.5S surged by VND83 to VND16,182 (US$0.63) per kilogram.
The two ministries said that the adjustment was based on the average world price of finished petroleum products from January 2 to January 8, 2025, with crude oil prices increasing from 1.64 percent to 3.06 percent depending on each product.
Besides, the fluctuations in the VND/USD exchange rate and input cost factors such as electricity and oil are also the main causes leading to the rise in petrol prices.
The adjustment session has not set aside or used the Petrol Price Stabilization Fund to ensure that domestic gasoline prices closely reflect fluctuations in the world market.
