Petrol prices inch up in latest adjustment

Retail prices of oil and petrol were raised from 3pm on May 4 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

Illustrative photo (Source: VNA)

Hanoi (VNA) - Retail prices of oil and petrol were raised from 3pm on May 4 following the latest adjustment by the Ministry of Industry and Trade (MoIT), and the Ministry of Finance.

Accordingly, the ceiling retail price of RON95 bio-fuel was raised by 440 VND to 28,430 VND (1.24 USD) per litre, while that of E5 RON92 increased by 330 VND to no more than 27,460 VND per litre.

At the same time, the price of diesel was capped at 25,530 VND per litre, an increase of 180 VND. Kerosene prices remained unchanged at 23,820 VND per litre. 

According to the MoIT, gasoline demand in the second quarter will reach about 5.2 million sq.m, with supply expected to hit some 6.7 million sq.m.

The total demand for petroleum in the domestic market this year is forecast at 20.6 million sq.m./.

VNA