Petroleum prices increased by VNĐ350 per litre

The ministries of industry and trade and finance decided to raise retail petrol prices by VNĐ 三 五0 per litre. — Photo vneconomy.vn

HÀ NỘI — The ministries of industry and trade and finance decided to raise retail petrol prices as of  三pm today.

The retail prices of all petroleum products were increased by VNĐ 三 五0. Accordingly, RON  九 二 petrol will trade at a maximum price of VNĐ 一 七, 五 八 三 ( 七 八 US cents) per litre and E 五 bio-fuel will trade at VNĐ 一 七, 三 八 二 per litre.

0.0 五S diesel will trade at a maximum price of VNĐ 一 三, 八 一 九 per litre and kerosene at VNĐ 二, 三 三 八 per litre, while mazut will be traded at VNĐ 一0, 九 六 六 per kilo.

The two ministries also decided to reduce the use of the petrol price stabilisation fund for RON 九 二 petrol and E 五 bio-fuel. Accordingly, subsidies for RON 九 二 petrol and E 五 bio-fuel were set at VNĐ 三00 and zero đồng per litre respectively.

The ministries said retail petrol prices were increased because the average global petrol price in the  一 五 days prior to today was some $ 六 六 per RON 九 二 barrel, an increase of $ 四 from the last adjustment.

Deputy Minister of Industry and Trade Hồ Thị Kim Thoa, at a conference earlier this week, said petroleum prices have been controlled following market movement. In addition, the balance of the price stabilisation fund was more than VNĐ 二 trillion.

Deputy Prime Minister-cum-head of the price management board Vương Đình Huệ asked the two ministries to calculate the effects of the petrol price adjustment on the local market and the use of the price stabilisation fund. The ministries were also required to study the revision of the Government’s Decree No  八 三 on petroleum trading.

Local petroleum prices have been adjusted seven times, so far, this year, including an increase of VNĐ 五0 四 on February  一 八.

In the last adjustment, the petroleum price was reduced by VNĐ 八 一 to VNĐ 一 七, 二 三 三 per litre, while E 五 was decreased by VNĐ 六 七 per litre to VNĐ 一 七,0 三 二. — VNS