The Ministry of Finance and the Ministry of Industry and Trade have permitted businesses to increase retail price of petrol by VND420-470 a liter, since 8pm of July 17.
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| Consumers will now pay VND24,570 a liter for Ron 92 gasoline after hike on July 17 |
The Ministry of Finance and the Ministry of Industry and Trade have permitted businesses to increase retail price of petrol by VND420-470 a liter, since 8pm of July 17.
The price of Ron 92 gasoline is up by VND460 to cost VND24,570 a liter now, while diesel was up VND470 to cost VND22,310. Kerosene price was hiked by VND420 to reach VND22,020 a liter.
In an announcement made by the Ministry of Finance last night, world petrol prices have been steadily rising for the last one month; making Ron 92, diesel and kerosene prices higher than domestic retail prices by VND726-988 a liter.
The remaining balance amount in the price subsidization fund was too little to bail out the present situation, while world petrol prices are likely to go even further up.
(Source: SGGP)
