Petrol prices have increased twice in row since April.
From 15.00 today [May 15], the retail price of biofuel E5 and RON92 rose by VND440 to around VND18,420 (US$0.8) per liter, and that of RON95 went up by VND370 to VND19,530 (US$0.85) per liter.
Since April, petrol prices have increased twice in a row. File photo |
The move came after the latest review on petrol prices jointly released by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) on the same day.
Since April, petrol prices have increased twice in a row. RON95 rose by a total of VND560 per liter, E5 and RON92 by VND620.
Meanwhile, price of kerosene was posted at VND13,820 (US$0.6) per liter, or an increase of VND570; diesel of VND14,770 (US$0.64) (up VND450), mazut of VND14,270 (US$0.62) per kilogram.
Both the MoIT and the MoF decided to subsidy for E5 and RON92 from the petrol price stabilization fund with VND1,900 and VND1,050 for RON95; diesel (VND400); kerosene (VND400); and mazut (500).
At a recent price management meeting, Deputy Prime Minister Le Minh Khai instructed the two to manage petrol prices in a flexible manner, which should be in line with global prices.
“Two ministries should be cautious about using the petrol price stabilization fund, especially as prices on the global market are on the upward trend,” said Khai, adding the goal is to prevent a sudden rise in prices of these products in the domestic market.
Other News
- Trade ministry proposes purchasing renewable electricity mechanisms without EVN’s involvement
- Australia and Vietnam develop competitive electricity markets
- Vietnam, Thailand advance realization of “Three Connections” strategy
- Vietnamese Gov’t to expand list of electricity buyers under direct power agreement scheme
- Viettel opens largest data center in Vietnam to support AI development
- Vietnam’s economy expected to grow at solid pace in 2024-2025: ADB
- Apartment prices in Hanoi are closing in on those in Ho Chi Minh City
- Coffee exports reach record $5 billion
- Nearly 36,000 Vietnamese workers go abroad in Q1 2024
- New Vietnam-Laos trade agreement signed
Trending
-
Where do Vietnamese prefer to go for their next holiday?
-
Vietnam news in brief- April 19
-
Cultural similarities provide basis for Vietnam-Italy cooperation in various fields
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy
-
MICHELIN Guide sets its sights on Vietnam’s central region