Fuel prices gain over 600 VND per litre from 3:00 pm on May 5. (Photo: VNA)

Hanoi (VNA) – The prices of RON 92 petrol and bio-fuel E5 were raised 646 VND and 634 VND per litre from 3:00 pm on May 5.

Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene also increased 650 VND and 550 VND per litre, respectively.

It is the third fuel price hike since the beginning of this year with a total increase of 1,800 VND per litre.

Accordingly, RON 92 and E5 are sold at no more than 15,586 VND (0.7 USD) and 15,076 VND (0.68 USD) per litre, while the ceiling prices of diesel and kerosene went up to 11,023 VND (0.49 USD) and 9,455 VND (0.42 USD) per litre.

The two ministries also decided to cut down subsidies on RON 92 from 800 VND to 639 VND per litre and on E5 from 830 VND to 672 VND per litre.

Meanwhile, subsidies on diesel and kerosene were increased 846 VND and 1,029 VND per litre, respectively.

The ministries announce the base fuel prices every 15 days, depending on the fluctuation of world oil and gas prices since the previous announcement.-VNA