Accordingly, a litre of A92 petrol and kerosene now costs VND18,000 and VND19,000 respectively. However, the retail price of diesel remains unchanged.

The Ministry of Finance on July 21 raised domestic petrol and oil prices by 30 percent due to a sharp increase in global oil prices. Global crude oil prices continued dropping from US$140 per barrel in late July to US$112 per barrel on August 13. 

According to an economic expert, domestic oil importers will gain a profit of VND4,500/litre (for petrol A92) if global oil prices fluctuate at around US$111/barrel. This means that a litre of A92 petrol will cost VND14,000, including surcharges.

However, the Ministry of Finance says it has received no requests from importers to adjust the price