Vietnam raises petrol prices by over VND300 per liter

Retail petrol prices rose by more than VND300 per liter from 3 pm on January 26, the fifth increase in a row, following the latest review by the Ministry of Industry and Trade and the Ministry of Finance.

Accordingly, the price of bio-fuel E5 RON92 increased by VND361 to a maximum of VND16,309 (US$0.71) per liter, and RON95-III by VND340 to no more than VND17,270 per liter.

The prices of diesel oil 0.05S and kerosene were pushed up by VND395 and VND350 to cap at VND13,042 and VND11,908 per liter, respectively.

Meanwhile, the price of fuel oil 180CST 3.5S inched up VND350 to VND12,622 per kilogram.

The two ministries said that the prices of petrol and oil on the global market increased from 5.34 to 6.45 percent in the past 15 days. They review fuel prices every 15 days to keep the domestic prices up to date with the global market.

With a view to supporting economic recovery in the nation, the ministries decided to increase expenditure for the petrol price stabilization fund by VND250-VND1,350 per liter.