Fuel prices rise for third consecutive time
Fuel prices rise for third consecutive time
The Ministries of Industry and Trade and Finance have announced a hike in retail fuel prices by some VND1,000 per liter of gasoline and by VND350 per liter of oil today, May 2, the local media reported.
E5 bio-fuel inched up VND985 to some VND20,600 per liter, while RON 95 gasoline is now sold at VND22,190, up VND956.
The retail prices of diesel oil 0.05S and kerosene increased by VND311 and VND363 per liter to VND17,695 and VND16,625, respectively.
Meanwhile, the heavy fuel oil 3.5S sells for VND16,002 per kilogram, up VND385 per kilogram.
Accordingly, local fuel traders were allowed to get VND925 from the national fuel price stabilization fund for each liter of E5 RON92 bio-fuel sold and VND283 for each liter of RON95 petrol sold.
Besides this, the extraction level was kept unchanged at the current VND300 for each liter of fuel sold to consumers.
The retail fuel prices are being maintained at much lower levels than the base prices, according to the ministries.
This is the third upward adjustment of fuel prices over the last month.
In April, domestic fuel prices rose twice by over VND1,000 per liter. In particular, retail fuel prices edged up by VND300-VND1,200 per liter, with E5 RON92 bio-fuel and RON95-III gasoline seeing the sharpest increases of VND1,120 and VND1,200 per liter, respectively, on April 17.
