Petrol prices up again

Retail gasoline prices will rise by VND1,000 (6 U.S. cents) a liter from Wednesday, after the Finance Ministry agreed to the increase requested by local importers and distributors.

The new petrol prices will be VND13,500 (76 cents) a liter for A92, the most popular type of gasoline, and VND11,500 (65 cents) a liter for diesel. Kerosene, used in rural areas for cooking, will retail at VND13,000 (73 cents) a liter.

The VND1,000 increase will apply on all fuel products, according to the ministry.

The ministries of finance, industries and trade said the latest price rise anticipated a jump in world oil prices as consumption rose in the summer.

The petrol price increase is the fourth since early April. The Ministry of Finance raised gasoline prices by VND500 (3 cents) per liter on May 8, nearly a month after a VND500 increase on April 11. Another VND500 increase on all fuel products except diesel was applied on April 2.

Petrol distributors said A92 gasoline traded in Singapore was now selling for more than $72 per barrel. The firms said that they were making a loss of VND2,000 (11 cents) a liter on petrol sold at the previous retail price.

vietnews, vietnamplus

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