Petrol prices increased for fourth time since mid-August
Petrol prices increased for fourth time since mid-August
The Ministry of Finance and the Ministry of Industry and Trade increased fuel prices on October 5, marking the fourth consecutive rise since mid-August.
The selling prices of RON92 rose slightly, by VND172 (US$0.008) per litre to VND16,404, while E5 bio-fuel increased by VND160 per litre to VND16,141, and diesel oil increased by VND169 to VND12,424.
The four increases since mid-August caused petrol prices to rise by VND1,750.
Yesterday's adjustment in fuel prices was the 19th this year, in which petrol prices were increased nine times for a total of VND4,500 and lowered eight times for VND4,463. Thus, fuel prices did not post significant changes, compared to the beginning of this year.
According to the joint statement by the two ministries, on the world market the average petrol price in the 15 days prior to October 5 was $56,177 per barrel, up $0.6, while diesel oil was $55,615 per barrel, up nearly $1.
Increases in fuel prices in the local market has followed global trends.
The two ministries also chose to leave unchanged the petrol price stabilisation fund, at VND300 per litre for RON 92 and E5 bio-fuel.
