Vietnam’s fuel prices see sharp increase

Wednesday, 2019-04-03 10:10:22
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Petrol prices have been increased by more than VND1,000 per litre.
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NDO - The prices of fuel in Vietnam have been hiked up by more than VND1,000 per litre following a joint decision by the Ministry of Finance and the Ministry of Industry and Trade.

The adjustments took effect from 17h00 on April 2, which increased a litre of E5 RON92 petrol by VND1,377 to VND18,588 per litre while a litre of RON95 petrol went up by VND1,484 to VND20,033.

Diesel oil and kerosene were also raised by VND1,219 and VND1,086 per litre, respectively.

Consumers will also have to pay an additional VND1,127 for a kilogram of mazut.

The two ministries said the fuel prices were increased because the average prices of RON92 and RON95 petrol in the global market rose by 5.05% and 4.81%, respectively, in the 15 days prior to April 2.

According to Deputy Minister of Industry and Trade Do Thang Hai, petrol price rises could have been much higher if not for using subsidies from the price stabilisation fund.

Since the start of 2019, fuel prices in Vietnam have undergone two rounds of increase and one round of decrease.