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Vietnam sees sharp hike in petrol prices
The retail prices of fuel products in Vietnam were revised upward starting from 4:00 pm on Thursday, with each liter of the popular RON95 gasoline soaring nearly VND900 (US$0.03), according to the Ministry of Industry and Trade.
Biofuel RON92 now sells for VND24,190 ($0.99) per liter, up around VND720 ($0.02), while the popular RON95 rose by VND870 ($0.33) per liter to VND25,740 ($1.05) from VND24,871 ($1.02).
The prices of oil products were also adjusted up.
Diesel oil is offered at VND23,590 ($0.97) per liter, up VND540 ($0.02).
The price of kerosene is capped at VND23,810 ($0.97) per liter, rising VND630 ($0.02) while that of heavy fuel oil is VND17,840 ($0.73) per kilogram, inching up VND140.
During this fuel price adjustment, the ministry decided to tax each liter of most oil and petrol products sold by VND300 to replenish the national fuel price stabilization fund, except for heavy fuel oil.
The domestic retail prices of petrol products have been adjusted 26 times since the start of this year, with 16 hikes and six cuts.
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