Domestic petrol and oil prices rise on global market trend
VOV.VN - The retail prices of petrol and oil were adjusted upward across Vietnam from 3 p.m. on January 16 on the back of the rising global demand.
Specifically, E5 RON 92 rose by VND140 per litre to be not higher than VND20,570 per litre, while RON95-III edged up by VND210 to VND21,220 per litre at the maximum.
The prices of oil were also adjusted upward, with diesel going up by VND540 to VND19,780 per litre, kerosene by VND460 to VND19,700 per litre.
Mazut oil 180CST 3.5S was priced at VND17,180, surging by VND1,000 per kilogramme compared to the previous price adjustment a week ago.
In the latest price adjustment cycle, the Ministry of Industry and Trade and the Ministry of Finance decided not to use the petrol and oil price stabilisation fund.
Since the beginning of this year, petrol prices have been revised up for three times.
According to the Ministry of Industry and Trade, global oil prices rose in the past week driven by year-end activities and heightened energy consumption ahead of the Lunar New Year holiday. In addition, major oil-producing countries continued to reduce output, limiting global supply.
This price adjustment is expected to impact transportation and production costs. However, regulatory authorities have pledged to closely monitor market developments to safeguard the interests of both citizens and businesses.
