Following a joint decision issued by the Ministries of Industry & Trade and Finance, diesel 0.05S price rose by 599 VND per litre, while that of paraffin was up by 520 VND per litre.
This was the tenth hike in fuel prices so far this year with a total increase of nearly 5,000 VND per litre. By contrast, the prices have been dropped 8 times since the beginning of the year, with the decreases amounting to about 4,463 VND per litre.
Current ceiling prices of RON 92 and E5 bio-fuel are 16,845 VND per litre and 16,533 VND per litre, while maximum prices of diesel and paraffin are kept at 13,023 VND per litre and 11,543 VND per litre.
The average global price of RON 92 during the last 15 days to October 20 was 59.995 USD per barrel, while that of diesel 0.05S was 62.338 USD per barrel, the ministries said.
They also decided to maintain subsidies on RON 92 and E5 at 600 VND and on diesel and paraffin at 300 VND per litre. The subsidies are sourced from the fuel stabilisation fund.