Business

Fuel prices increase in latest adjustment

E5RON92 petrol rose by 635 VND to a maximum of 19,826 VND (0.76 USD) per litre, while E10RON95-III went up 547 VND to 20,550 VND per litre.

A commuter purchases fuel at a Petrolimex station. (Photo: VNA)
A commuter purchases fuel at a Petrolimex station. (Photo: VNA)

Hanoi (VNA) – Retail prices of all major fuel products in Vietnam were increased from 3pm on July 16, according to a joint decision by the Ministry of Industry and Trade and the Ministry of Finance.

E5RON92 petrol rose by 635 VND to a maximum of 19,826 VND (0.76 USD) per litre, while E10RON95-III went up 547 VND to 20,550 VND per litre.

Diesel 0.05S was capped at 23,329 VND per litre, up 1,584 VND. The price of 180CST 3.5S fuel oil climbed 724 VND to 14,459 VND per kilogramme.

In this adjustment, the authorities decided not to make allocations to the petrol price stabilisation fund but used 1,500 VND per litre for diesel and 500 VND per kilogramme for fuel oil from the fund.

The Ministry of Industry and Trade attributed the increases mainly to rising global fuel prices amid renewed US–Iran tensions, the continued Russia–Ukraine conflict, and Russia's ban on diesel exports.

It said Vietnam's current fuel prices remain lower than those in neighbouring countries./.​

VNA
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