The petrol retail price saw its highest surge so far this year on Saturday, raising concerns over unpredictable impacts to the economy and the possible increase of goods prices during the upcoming Tết (Lunar New Year) Holiday, experts said.
The consumer price index (CPI) dropped by 0.09 per cent in July from the previous month, the General Statistics Office (GSO) reported on Sunday.
The domestic retail price of RON 92 petroleum increased by VNĐ434 to trade at a maximum of VNĐ18, 580 (81 US cents) per litre, as of 3pm on Monday.
Calculation of petroleum import tax based on weighted average of the tariffs along with locally produced petrol from Dung Quất Oil Refinery would benefit consumers, Vũ Thị Mai, deputy minister of finance, said.
Shares underwent a downward spiral again on Thursday after a brief recovery on Wednesday on blue chips divergence while money is flowing in companies releasing solid earning results.
The retail price of petrol fell VNĐ708 to reach VNĐ17,314 (US77 cents) per litre at 3pm on Tuesday.