Petrol prices continue to rise

02:46' PM - Thursday, 18/07/2019

The retail prices of petrol and oil increased in the latest review of the ministries of Industry and Trade and Finance at 5pm on Wednesday.

The retail price of bio-fuel E5 RON 92 went up VNĐ626 to VNĐ20,279 (US$0.87) per litre, and that of RON95 hit VNĐ21,235 ($0.91), up VNĐ718.

The prices of diesel and kerosene went up by VNĐ48 and VNĐ21 to VNĐ16,997 and VNĐ15,659 per litre, respectively. The price of mazut was capped at VNĐ15,980 per kilo, up VNĐ760.

The two ministries said they review fuel prices every 15 days to keep domestic prices up to date with the global market.

In the past fortnight, global petrol prices hit $72.19 a barrel of petrol RON92, up 6.53 per cent from the previous adjustment. The price of RON95 was 7.48 per cent higher at $74.50 a barrel.

The two ministries also decided not to use petrol price stabilisation fund or increase retail prices to ensure local prices follow the world market as well as control inflation.

The balance of Petrolimex’s price stabilisation fund as of Wednesday was negative VNĐ240 billion, Petrolimex said on its website.

This was the second increase of the petrol retail price this month.

In the previous adjustment, the retail price of bio-fuel E5 RON 92 hit VNĐ19,653 per litre, up VNĐ420, and that of RON 95 rose to VNĐ20,517, up VNĐ383.

The prices of diesel and kerosene went up by VNĐ292 and VNĐ326 to VNĐ16,949 and VNĐ15,937 per litre, respectively. The price of mazut was capped at VNĐ15,220 per kilo, up VNĐ105. — VNS

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