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 169 VND and 137 VND per litre, respectively.
It was the fourth consecutive fuel price hike in recent times, with a total increase of nearly 1,750 VND (0.078 USD) per litre.
It also marked the 19th adjustment this year, with nine increases, totally by 4,500 VND (0.202 USD) per litre; eight falls, totally by 4,463 VND (0.20 USD) per litre; and two times unchanged.
Under the joint decision, RON 92 and E5 are sold at no more than 16,404 VND (0.74 USD) and 16,141 VND (0.72 USD) per litre, while the ceiling prices of diesel and kerosene are 12,424 VND (0.56 USD) and 11,023 VND (0.49 USD) per litre.
The ministries said the global price of RON 92 during the last 15 days to September 20 was 56.177 USD per barrel, up 0.6 USD per barrel, while that of diesel 0.05S was 55.615 USD per barrel, increasing by approximately 1 USD per barrel.
The two ministries also decided to keep retailers’ contribution to the Petroleum Price Stabilisation Fund unchanged and give them a subsidy of 300 VND per litre for RON 92 and E5 from the fund.
The base fuel prices will be adjusted by the two ministries every 15 days, depending on the fluctuation of world oil and gas prices since the previous announcement and should be in accordance with the government’s Decree 83/2014/ND-CP, and Circular 39/2014/TTLT-BCT-BTC.