The Ministry of Finance and the Ministry of Industry and Trade announced the latest fuel price adjustment, effective from 3:00 pm on January 29, with most oil and petrol products seeing increases.
Petrol imports this year should be sharply reduced as the Nghi Son Refinery comes into operation and the output of Dung Quất Refinery meets most of the local demand, said Deputy Minister of Industry and Trade Do Thang Hai.
The retail price of bio-fuel E5 increased by 320 VND per litre, while that of RON 92 rose 293 VND per litre from 3pm on September 21 due to rising global prices.
The Dung Quat Oil Refinery (BSR) in the central province of Quang Ngai, the first oil refinery in the country, has been recognised among the top ten eco-friendly factories in Vietnam this year.
The number of local consumers using E5 petrol in their autos has been increasing rapidly, though bio-fuel has only been put into use nationwide for just the past month.
The Vietnam National Petroleum Corporation (Petrolimex) will be the first to distribute diesel oil with Euro 5 standard in the Vietnamese market from January 1, 2018.
The retail prices of RON 92 and E5 petrol dropped by 112 VND and 105 VND per litre, respectively, from 16:55 of October 5, according to a joint decision of the ministries of Industry and Trade and Finance.
The price of RON 92 decreased by 435 VND per litre from 5:00pm on July 5, according to the latest adjustment of the Ministry of Industry and Trade and the Ministry of Finance the same day.
The price of RON 92 declined by 862 VND per litre to 16,504 VND (0.72 USD) from 3:00pm on June 20 as decided by the Ministry of Industry and Trade and the Ministry of Finance.
Prices of oil and petrol products continued to decrease from 3:00pm on May 20, according to the latest adjustment of the Ministry of Industry and Trade and the Ministry of Finance the same day.