People queue to buy petrol in Hanoi on the evening of May 12.
In the latest fuel adjustment on May 13, the ministries of Industry and Trade and Finance raised the petrol prices by VND578 per litre for E5 RON 92 and VND604 per litre for RON 95.
Meanwhile, diesel prices fell by VND84 per litre, kerosene by VND83 per litre and mazut by VND125 per kilo.
After the adjustment, E5 RON 92 is now being sold at VND11,520 per litre, RON 95 at VND12,235 per litre, diesel at VND9,857 per litre, kerosene at VND7,882 per litre, and mazut at VND 8,545 per kilo.
A report released by the Ministry of Industry and Trade on May 11 showed that petrol prices in Singapore had rebounded. The average price of RON 92 petrol was USD 24.77 a barrel which is an increase of 34% against last period while RON 95 petrol has the average price of USD26.67 a barrel or a 35% increase compared to last period.
The two ministries decided not to use subsidies from the petrol price stabilisation fund.