Petrol price up over VND900 per litre

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 saw respective hike of VND761 and VND734 per litre.

Current ceiling price of RON 92 petrol and E5 bio-fuel is no more than VND17,594 and VND17,322 per litre, respectively, while the maximum prices of diesel 0.05S and paraffin are kept at VND13,433 and VND11,943 per litre.

The average global prices of RON 92 during the last 15 days to December 20 was US$63.451 per barrel, up US$5 per barrel, whilst that of diesel 0.05S was US$62.557 per barrel, lifting US$4.7 per barrel. 

The ministries also decided to keep retailers’ contribution to the Petroleum Price Stabilisation Fund unchanged and give them subsidy of VND600 per litre for RON 92 and E5 from the fund. Meanwhile, subsidy on diesel was VND250 per litre.

It marked the 24th adjustment of petrol price this year with 13 increases totaling nearly VND6,000 (US$0.263) per litre, nine cuts with a total amount of VND4,463 (US$0,196) per litre and two times unchanged. The petrol price is up over VND1,000 (US$0.044) per litre compared to the beginning of the year.