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Fuel prices up more than 5 percent
Fuel traders raised retail prices by over 5 percent Wednesday, following higher world oil prices, according to a press release by the Ministry of Finance.
The popular 92-octane gasoline is now priced at VND14,200 (US$0.79) per liter, up from VND13,500. Diesel and kerosene prices have risen to VND12,100 and VND13,650 per liter from VND11,500 and VND13,000 respectively. Meanwhile, mazut fuel oil will now sell for VND10,500 per liter, up from VND10,000.
This is the second time Vietnam has increased fuel prices in one month. On June 10, oil importers raised retail prices of gasoline, diesel and kerosene by up to 9.5 percent after receiving permission from the Ministry of Finance and the Ministry of Industry and Trade.
The Ministry of Finance has also decided to lower kerosene import tax from 35 percent to 30 percent beginning next Monday.
Vietnam exports crude oil but imports most locally consumed petroleum products.
The country imported 5.9 million tons of petroleum products worth nearly $3 billion in the first half of this year. The figures amounted to respective declines of 3.6 percent and 54.2 percent year-on-year, according to the General Statistics Office.
Oil rebounded in Asian trading Wednesday after falling overnight on figures showing declining consumer confidence in the US, the world’s biggest energy user, AFP reported.
New York’s main contract, light sweet crude for August delivery, rose $1.05 to $70.94.
Global oil prices have increased dramatically – by 40 percent, or more than $20 – in the second quarter on rising confidence that the global slump is easing. It closed at $49.66 on March 31, the last day of the first quarter.
Ngan Anh
thanhnien
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