Petrol prices remain unchanged in regular price adjustment

This is the second time the petrol price was kept unchanged in 2017. As a result, the current ceiling prices of RON 92 and E5 petrol are 17,594 VND (0.774 USD) and 17,322 VND (0.762 USD) per litre respectively, is 1,000 VND higher than that at the beginning of 2016. 

Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene increased 200 VND and 347 VND per litre, respectively, to 14,047 VND (0.62 USD) and 12.600 VND (0.56 USD) per litre.

According to the ministries, the average global prices of RON 92 during the last 15 days to January 19 was 66.707 USD per barrel, whilst that of diesel 0.05S rose by nearly 1 USD per barrel to 65.236 USD per barrel.

The ministries also decided to keep retailers’ contribution to the Petroleum Price Stabilisation Fund unchanged and give them subsidy of 503 VND per litre for RON 92 and 514 VND per litre for E5 from the fund. Meanwhile, subsidy on diesel was 0 VND per litre.

The prices of petrol and oil are adjusted every 15 days depending on changes in the world market. In 2016, petrol price was raised 13 times with a total increase of 6,000 VND (0.264 USD) per litre, and reduced nine times with a total amount of 4,463 VND (0.196 USD) per litre.