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Petrol prices rise after stable two months

Update: September, 07/2018 - 11:00
The retail price of biofuel E5 RON 92 rose VNĐ300 to VNĐ19,911 (85 US cent) per litre at 3pm on Thursday. — Photo
Viet Nam News

HÀ NỘI — The retail price of biofuel E5 RON 92 rose VNĐ300 to VNĐ19,911 (85 US cent) per litre on Thursday after two months remaining unchanged, the ministries of industry and trade and finance have announced.

The price of RON 95 also rose by VNĐ300 to VNĐ21.477 per litre, while the prices of diesel and kerosene went up by VNĐ383 and VNĐ296 to VNĐ18,069 and VNĐ16,559 per litre, respectively.

The price of mazut increased by VNĐ173 to VNĐ14,916 per kilo.

According to the Ministry of Industry and Trade (MoIT), the two ministries review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market. 

The global price for RON92, which is the base for the production of E5 petrol, stood at $85 per barrel in the 15-day period prior to September 5, increasing $3.22 a barrel. RON95 was sold at $87.2 per barrel, up $4.8 from the previous adjustment.

The two ministries also decided to increase the use of the petrol price stabilisation fund for E5 RON 92 from VNĐ1,272 to VNĐ1,563; RON 95 from VNĐ697 to VNĐ960; diesel VNĐ400 and kerosene VNĐ300 per litre. Kerosene and diesel did not use the fund in the previous adjustment.

The price of ethanol E100, which is used as the basis for the calculation of the price of biofuel E5 RON 92 after the elimination of petrol RON 92, stands at VNĐ14,874 per litre without value added tax. — VNS


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