Domestic oil and petrol prices rise slightly
VOV.VN - The Vietnamese government decided to raise retail oil and petrol prices by several hundreds of VND per litre as of 3pm on October 21.
The prices of petrol RON95 and RON92 E5 increased by VND340 and VND200 per litre to VND22,340 and VND21,490 per litre respectively.
Meanwhile, the diesel oil was capped at VND24,780 per litre, an increase of VND600 compared to the previous price adjustment cycle 10 days ago.
This is the second time in a row retail petroleum products have soared following the previous four decreases.
According to the Ministry of Industry and Trade, the prices of petroleum products in the world market has since the beginning of the year increased by 57-85% compared to the same period in 2021.
It anticipated that the world petroleum market would continue to evolve in a complicated manner in the remaining months of the year, especially due to the impact of the Russia-Ukraine conflict, that would cause scarce supply and high prices.
Domestic prices of oil and petrol in Vietnam are jointly adjusted every 10 days by the Ministry of Industry and Trade and the Ministry of Finance.