Petrol prices rise by over VND1,000 per litre in latest adjustment
VOV.VN - Retail prices of petrol and oil continued to witness an increase as of 3 p.m. on November 11 following the latest price review jointly conducted by the Ministry of Industry and Trade and the Ministry of Finance.
Accordingly, the price of E5RON92 biofuel recorded a rise of VND840 to a maximum of VND22,710 per litre, while the price of RON95-III edged up by VND1,110 to VND23,860 per litre.
This marks the fourth consecutive time that domestic petrol prices have increased after experiencing four recent reductions.
Meanwhile, diesel was traded at VND24,980 per litre, representing a decline of VND90.
The price of kerosene stood at VND24,740 per litre, rising by VND960, and mazut was also adjusted up by VND680 to VND14,760 per kg.
As part of the adjustment period, the two ministries also decided to extract VND200 to VND300 per litre from the petrol price stabilisation fund.
This year has seen petrol prices undergo 30 price adjustments, with 17 increases and 12 drops, whilst one time prices remained unchanged.
Under the new rules adopted in November, 2021, petrol prices would be regulated on the first, 11th, and 21st days of each month, putting prices into a 10-day cycle that is on par with global market fluctuations which may occur.
