Petrol prices increase by VND300 per litre

The price of bio-fuel E5 increased by VND300 per litre, while that of diesel 0.05S increased slightly by VND383 per litre during the latest regular adjustment of petrol and oil prices on September 6.

petrol prices increase by vnd300 per litre hinh 0
A staff sells fuel for a customer at a Petrolimex filling station (Photo: VNA)
The Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) announced that the prices of E5 are not higher than VND19,911 per litre, and those of diesel 0.05S should not be higher than VND18,069 per litre.

The prices of 180CTS kerosene and 3.5S fuel oil (FO) are not more than VND16,559 per litre and VND14,916 per litre, up VND296 and VND173 per kilogramme, respectively. 

Meanwhile, the cost of ethanol E100 which is used to produce E5 petrol stood at VND14,874 per litre before tax. 

The changes took effect from 3pm on September 6.

The MoIT and MoF co-review fuel prices every 15 days to adjust prices in accordance with fluctuations on the world market. 

According to the MoIT, global prices of petrol and oil have increased sharply of late. The price for RON92, which is the base for the production of E5 petrol, stood at US$85.005 per barrel in the 15-day period prior to September 6, up by US$3.220.

Additionally, RON95 was sold at US$87.258 per barrel, up US$2.926. The price of diesel 0.05S also went up to US$91.328 per barrel, while those of kerosene and FO 180CST 3.5S rose to US$89.954 per barrel and US$451.279 per tonne, respectively. 

The petrol price stabilisation fund has been used constantly in recent times to mitigate the impact of rising global prices and contribute to curbing inflation.

This time, subsidies for E5 RON92 are VND1,563 per litre (previously VND1,272 per litre), 960 VND per litre for RON95 (previously VND697 per litre), as well as VND400 per litre for diesel and 300 VND per litre for kerosene, which received no subsidy in the previous adjustment.

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