Prices of petrol, gas advance

Fuel prices have been adjusted as of 3 p.m. on November 30 in accordance with the order of the ministries of Industry and Trade and Finance.

Particularly, the price of E5 RON92 gasoline jumped by VND312 per liter to a maximum of VND19,819 per liter. The price of RON95-III surged by VND283 per liter to a maximum of VND21,079 per liter. The price of diesel oil 0.05S edged up VND25 per liter to VND15,988 per liter. Kerosene slid VND6 per liter to VND14,962 per liter. Mazut oil dropped VND754 per kilogram to a maximum of VND11,188 per kilogram.

The ministries ordered fuel traders to spend VND100 per liter for biofuel E5 RON92, diesel oil and kerosene, VND300 per liter for RON95 gasoline and VND1,050 per kilogram for mazut oil to set up the fuel price stabilization fund. At the same time, fuel traders were allowed to tap the fund for E5 RON92 gasoline and RON95 gasoline at VND200 per liter and VND0 per liter respectively.

On the same day, gas enterprises in Ho Chi Minh City said that the price of gas rose by VND292 per kilogram, or an increase of VND3,500 per 12-kilogram gas cylinder as from December 1. Enterprises explained that gas prices climbed as average contract price in December this year reached US$447.5 per ton of gas, an increase of $10 per ton compared to that in November. Earlier, average contract price in November touched $437.5 per ton, an increase of $10 per ton in comparison with that in October so gas enterprises also made the same adjustment.

It is forecast that from now to lunar New Year gas prices will continue to move upwards as gas supply declines and contract price might keep going up.