Accordingly, the retail price of petrol A92 was sold at VND23,800/litre, up 3.93 percent from the previous figure.

Diesel increased by VND500 to VND21,900/litre, kerosene by VND600 to VND21,400/litre, and mazut by VND400 to VND19,200/litre.

This is the second time retail petrol prices have been adjusted this year. On March 7, the price of petrol A92 was raised by up to VND2,100 to VND22,900/litre.

The Ministry of Finance explained that the adjustment would help domestic petrol prices match global market fluctuations and truly reflect the prices of commodities and services using petrol.   

The import tariffs on petrol and oil have been slashed to zero percent to stabilise market prices.