Petrol prices up nearly VNĐ1,000 per litre

HÀ NỘI — The ministries of Industry and Trade and Finance revised petrol prices up on Thursday, marking the third time they had made price adjustments after using the price stabilisation fund.

The retail price of bio-fuel E 五 RON  九 二 rose by VNĐ 九 八 五 per litre to VNĐ 二0, 六 八 八 (US$0. 八 九) while that of diesel increased by VNĐ 三 一 一 per litre to a level of VNĐ 一 七, 六 九 五. 

The ceiling prices of kerosene and mazut were capped at VNĐ 一 六, 六 二 五 and VNĐ 一 六,00 二 per kilo, respectively.

The price of ethanol E 一00, which is used to calculate the price of E 五 RON  九 二 after the elimination of petrol RON  九 二, stood at VNĐ 一 四, 七 九 一 per litre without VAT.

The two ministries review fuel prices every  一 五 days to keep domestic prices up to date with the global market.

In the two weeks before May  二, world petrol prices went up by between  二. 二 per cent and  三. 二 二 per cent. 

In the past fortnight, global petrol prices were on the rise at $ 八0. 二 四 a barrel of petrol RON 九 二 and that of RON 九 五 was $ 八 二. 二 八 a barrel.

The ministries decided to keep the fund’s expenditure for existing petrol products unchanged.

The balance of Petrolimex’s price stabilisation fund as of Wednesday was negative VNĐ 三 五 五 billion, Petrolimex said on its website.

This has been the third increase of petrol retail prices so far this year with total increases of VNĐ 三, 五 六 四 and VNĐ 三, 六 四 二 for a litre of bio-fuel E 五 RON  九 二 and RON 九 五, respectively. — VNS