Illustrative photo (Photo: VNA)

Hanoi (VNA) – The prices of petrol and oil increased as from 15:00 of May 23 following a joint decision of the Ministry of Finance and Ministry of Industry and Trade.

Specifically, the price of E5 RON92 petrol rose by 500 VND per litre, while that of RON95-III petrol increased by 600 VND per litre, diesel expanded by 587 VND per litre and kerosene up by 523 VND per litre.

After the adjustment, the prices of E5 bio-fuel are not higher than 19,940 VND per litre, and those of RON95-III petrol, diesel 0.05S and kerosene should not be higher than 21,511 VND per litre, 17,694 VND per litre and 16,440 VND per litre, respectively.

The ministries of Industry and Trade and Finance review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market.

According to the ministries, the world petrol prices have recently surged due to the unstable political situation in the Middle East and a decline in oil supply from Venezuela.-VNA