Under the decision by the Ministry of Industry and Trade and the Ministry of Finance, the retail prices of E5 RON 92 and RON 95 rose by VND840 and VND1,110 to VND22,710 and VND23,860 respectively.
Petroleum prices in Vietnam continue rising
Kerosene increased to VND24,740 and Mazut oil grew to VND14,760 per kilo. However, diesel fell to VND24,980 per litre.
The current petroleum prices are now equal to late December last year.
According to the Ministry of Industry and Trade and the Ministry of Finance, the higher petroleum prices in Vietnam were based on global petroleum price rises on November 1-11. The EU will stop buying all Russian crude oil in early December. Meanwhile, hopes that China would ease its Covid restrictions and the falling US dollar have also been blamed for the petroleum price increase.