The ministries of Industry and Trade, and Finance have raised retail petrol prices again in their latest adjustment on Friday afternoon.
Following the latest adjustment, the price of E5RON92 biofuel slightly increased by VND30 per litre to VND 22,820 per litre and RON95 by VND 30 to VND 23,990 per litre.
Meanwhile, diesel prices rose sharply by VND 1,810 to VND 22,420 per litre, and kerosene price increased by VND1,620 to VND21,890 per litre. The prices of mazut oil also went up sharply by VND 1,130 per litre to VND17,670 per litre.
The two ministries have decided to not extract petrol oil prices for the price stablisation fund this time.
The price hike was attributed to a sharp drop in US fuel stockpiles, Saudi Arabia and Russia's oil output cuts, and the Russia and Ukraine conflict.
Since the beginning of this year, the ministries have adjusted petrol prices 23 times including 13 times up, seven down, and three unchanged.