Petrol prices go up on October 1

Update: October, 02/2019 - 11:52


Customers buy fuel at a petrol station in Hà Nội. — Photo

HÀ NỘI — The retail prices of petrol and oil increased at 6pm on October 1 following the latest price review by the ministries of Industry and Trade, and Finance.

Bio-fuel E5 RON 92 went up VNĐ666 to VNĐ19,780 (US$0.86) per litre, and RON95 increased by VNĐ923 to reach VNĐ21,066($0.91).

The prices of diesel and kerosene went up by VNĐ438 and VNĐ424 to VNĐ16,638 ($0.72) and VNĐ15,786 ($0.68)per litre, respectively. The price of mazut was capped at VNĐ14,919 ($0.65) per kilo, up VNĐ829.

This was the first increase since July, said Petrolimex in its press release, adding the increase was inline with growing global prices of the products in accordance with local regulations.

According to the two ministries, the average price of petrol and oil in the world market had seen strong increases in the 15-day period before the latest price review.

The two ministries said global petrol prices hit $72.18 per barrel of petrol RON92 while the price of RON95 reached $78.57 per barrel.

As of October 1, the balance of the petrol price stabilisation fund at Việt Nam National Petroleum Group (Petrolimex) was VNĐ1.12 trillion (US$48.45 million), an increase of VNĐ151 billion ($6.5 million) from the previous adjustment on September 16. — VNS