Petrol prices up nearly VNĐ1,000 per litre

May 03, 2019 - 11:38

The Ministry of Industry and Trade and Finance Ministry revised petrol prices up on Thursday, marking the third time they had made price adjustments after using the price stabilisation fund.

Petrol retail prices continued to rise in the latest adjustment. — Photo vietnamplus.vn

HÀ NỘI — The ministries of Industry and Trade and Finance revised petrol prices up on Thursday, marking the third time they had made price adjustments after using the price stabilisation fund.

The retail price of bio-fuel E5 RON 92 rose by VNĐ985 per litre to VNĐ20,688 (US$0.89) while that of diesel increased by VNĐ311 per litre to a level of VNĐ17,695.

The ceiling prices of kerosene and mazut were capped at VNĐ16,625 and VNĐ16,002 per kilo, respectively.

The price of ethanol E100, which is used to calculate the price of E5 RON 92 after the elimination of petrol RON 92, stood at VNĐ14,791 per litre without VAT.

The two ministries review fuel prices every 15 days to keep domestic prices up to date with the global market.

In the two weeks before May 2, world petrol prices went up by between 2.2 per cent and 3.22 per cent.

In the past fortnight, global petrol prices were on the rise at $80.24 a barrel of petrol RON92 and that of RON95 was $82.28 a barrel.

The ministries decided to keep the fund’s expenditure for existing petrol products unchanged.

The balance of Petrolimex’s price stabilisation fund as of Wednesday was negative VNĐ355 billion, Petrolimex said on its website.

This has been the third increase of petrol retail prices so far this year with total increases of VNĐ3,564 and VNĐ3,642 for a litre of bio-fuel E5 RON 92 and RON95, respectively. — VNS

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