Retail petrol prices hit 15-month record high to nearly VND20,000/l
VOV.VN - Domestic retail petrol prices rose by between VND370 - 438 per litre from 3 p.m. on May 12 following the latest adjustments made by both the Ministry of Industry and Trade along with the Ministry of Finance.
According to the latest changes, the retail price of E5RON92 bio-fuel increased by VND438 to a maximum price of VND18,426 per litre, while that of RON95-III rose by VND370 to a sum of VND19,531 per litre.
The prices of diesel 0.05S and kerosene went up by VND446 and VND566 to reach VND14,774 and VND13,825 per litre, respectively.
Mazut 180CST 3.5S is now capped at a new level of VND14,279 per kilogramme, representing a rise of VND256 per kilogramme.
This marks the second time that petrol prices have witnessed consecutive rises during the past month, and the prices have reached a record high for the past 15 months.
Both the Ministry of Industry and Trade and the Ministry of Finance come together to review fuel prices every 15 days to adjust domestic prices in accordance with global market fluctuations.
As a way of setting these prices, the ministries use the Price Stabilisation Fund for E5RON92 at VND1,900 per litre, RON95-III at VND1,050 per litre, diesel 0.05S at VND400 per litre, kerosene at VND400 per litre, and Mazut at VND500 per kilogramme.
