Wednesday, October 17 2018

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Petrol price increased by VNĐ320 per litre

Update: September, 21/2018 - 17:52
The retail price of bio-fuel E5 RON 92 rose VNĐ320 to VNĐ20,231 (US$0.87) per litre at 3pm today. — Photo vietnamplus.vn
Viet Nam News

HÀ NỘI — The retail price of bio-fuel E5 RON 92 rose VNĐ320 to VNĐ20,231 (US$0.87) per litre at 3pm Friday due to rising global prices, the ministries of Industry and Trade and Finance announced.

The price of RON 95 also rose by VNĐ293 to VNĐ21,770 per litre, while the prices of diesel and kerosene went up by VNĐ57 and VNĐ124 to VNĐ18,126 and VNĐ16,683 per litre, respectively.

The price of mazut increased by VNĐ26 to VNĐ14,942 per kilo.

According to the Ministry of Industry and Trade (MoIT), global oil and petrol prices have surged to $86-91 a barrel.

The price of RON 92, which is used to produce bio-fuel E5, increased from $85.8 in the previous adjustment to $86.8 per barrel.

The price of ethanol E100, which is used as the basis for the calculation of the price of bio-fuel E5 RON 92 after the elimination of petrol RON 92, stood at VNĐ14,876 per litre without value added tax.

The two ministries have also decided to keep the use of subsidies from the petrol price stabilisation fund unchanged. Subsidies for E5 RON 92 were at VNĐ1,563 per litre, while those for RON 95 were raised from VNĐ960 per litre. Subsidies for diesel were VNĐ400 and VNĐ300 per litre respectively.

Announcements regarding fuel price changes are scheduled every 15 days to keep up with swings in the global market.

This has been the second consecutive rise within nine months after the ministries kept the selling price unchanged by using the price stabilisation fund.

On Thursday, the National Assembly Standing Committee issued a resolution to increase the environmental protection tax on gasoline by VNĐ1,000 (4 US cents) to VNĐ4,000 per litre. — VNS

 

 

 

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