The Vietnam National Petroleum Group (Petroleum) said that the fuel price has just increased by VND70-200 per litre beginning March 19.
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| Purchasing fuel |
Under the new adjustment, A92 is sold at VND24.510 per litre and VND22.770 for diesel. However, mazut prices will be slashed by VND120. Petrolimex only adjusted the prices after receiving final decision from the Ministry of Finance and the Ministry of Industry and Trade.
According to the two ministries, the world fuel prices have been on the rise since March 6. The world prices of both RON92 and diesel are high, staying at USD117.87 and USD123.12 respectively. Kerosene prices will be kept stable as there has been little volatility in the world market.
The new prices were applied at 12pm on March 19. In the mean time, the ministries also stopped using price stablisation fund on diesel and kerosene but still offset VND300 for firms that sell A92.
Previously, the calculation of Vietnam Petroleum Association (VINPA) showed that domestic enterprises were incurring huge loses as of March 13. They lost VND700 per litre of A92, VND300 per litre of kerosene and VND138 for a litre of diesel.
Even with the new adjustment, enterprises still lose VND200 for a litre of A92. However, firms do not incur lose nor make profit with diesel.