The latest price adjustment marked the third consecutive price hiking since late May, resulting in a rise of VND2,190 per liter for E5- RON92, and VND2,250 for RON95.
Following the adjustments, prices of E5, RON92 and RON95 reached the highest since February 14, 2020.
Domestic prices of RON95 petrol and bio-fuel E5 RON92 were lowered, while other fuels picked up by VND54-VND170 per liter or kilogram, starting at 3 p.m. today, December 16, after the national fuel price stabilization fund was used.
E5 RON92 petrol has performed rather poorly during the two years since its launch, despite the government’s efforts to narrow the price gap with RON95 to fit consumers’ wallets.
Supplies of RON95, one of the two main types of petrol used in Viet Nam, were still sufficient, according to the Ministry of Industry and Trade following complaints raised by some distributors about shortages.
Droves of filling stations in Hanoi have temporarily ceased selling RON95 gasoline, blaming insufficient supply, despite the trade ministry insisting that there is no imbalance between supply and demand for the petrol.
The retail price of petrol RON95 decreased VND400 per litre from 3pm on Wednesday, according to an announcement by the ministries of industry and trade and finance.