Monday, July 16 2018

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Fuel prices rise second time this year

Update: April, 08/2018 - 15:00
People fill motorbikes in a petrol station in Trần Quang Diệu Street in HCM City. — VNA Photo Hoàng Hải
Viet Nam News

HÀ NỘI – The prices of all kinds of fuel was increased from 3pm on Saturday by the Ministry of Finance and Ministry of Industry and Trade.

The price of E5 RON92 petrol rose by VNĐ592 per litre, diesel increased by VNĐ638 per litre and kerosene rose VNĐ521 per litre.

After the adjustment, E5’s ceiling price is VNĐ18,932 per litre (US$0.83), while 0.05S and kerosene should not cost more than VNĐ16,354 per litre and VNĐ15,081 per litre, respectively.

On the same day, Việt Nam’s biggest petroleum retailer Petrolimex set its retail price of E5 at VNĐ18,930 per litre. Prices of RON 95-IV and RON 95-III remained unchanged at VNĐ20,700 per litre and VNĐ20,500 per litre, respectively.

This was the second increase in retail petrol price from the beginning of this year.

The ministries of Industry and Trade and Finance review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market.

During the past 15 days, the world price of RON 92 petrol, used to produce E5 fuel, averaged $76.963 per barrel, up $3.7 over the level in the previous review period. The prices of diesel oil also went up $4.1 per barrel, prompting the adjustment.– VNS 

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