A litre of petrol has been increased by VND1,950 following a joint decision by the Ministry of Finance and the Ministry of Industry and Trade.
A litre of petrol has been increased by VND1,950 following a joint decision by the Ministry of Finance and the Ministry of Industry and Trade.
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| Petrol prices soarby nearly VND2,000 per litre |
The change, which came into effect at 9pm on May 5, pushed up the price of RON 92 petrol, a popular type of fuel for motorbikes, to VND19,230 per litre.
The prices of diesel and mazut remained unchanged while a litre of kerosene was cut by VND258.
Price regulators said the increase in domestic petrol prices came as a result of global oil price rises seen in the past 15 days.
According to the two ministries, a litre of RON 92 petrol as of May 5 on the world market was VND3,387 higher than the domestic retail price, causing losses for fuel importers.
The previous day, the Ministry of Finance decided to keep the import duty on petrol products unchanged at 20% while reducing the tariffs on diesel from 20% to 12% and mazut from 25% to 13%.
Prior to the May 5 adjustment, a litre of petrol was increased by VND1,600 on March 11, ending months of price cuts amid global oil price tumble.
(Source:Nhan Dan)
