Vietnam raises retail fuel prices, with RON95 jumping by over VND5,000 a litre
Retail fuel prices were raised from 11pm on Thursday at rates from VND3,520 to VND9,000 per litre, while the fuel price stabilisation fund continues to be tapped at VND3,000-4,000 per litre, following the fuel price development in the global market.
Specifically, the ministries of Industry and Trade and Finance raised the price of E5 RON92 petrol by VND4,670 per litre and RON95 by VND5,120 per litre, according to their latest price adjustment decision.
Following the change, the retail price of E5 RON92 rose to VND27,170 per litre, while RON95 increased to VND30,690 per litre.
Diesel rose by VND6,400 to VND33,420 per litre, kerosene climbed by VND8,990 to VND35,920 per litre, and mazut increased by VND3,520 to VND22,180 per kg.
The fuel price stabilisation fund is used to moderate the increases at VND3,000 per litre for gasoline, kerosene and mazut and VND4,000 per litre for diesel.
The ministries have repeatedly drawn from the stabilisation fund in an effort to curb rising domestic fuel prices for the past six consecutive adjustments, from March 11.
The latest adjustment comes after two periods in which prices were kept unchanged. Since the beginning of the year, RON95 petrol prices have been raised 10 times, reduced five times and left unchanged twice.
VNS
