RON 95-III petrol rose by VND 3,150 to VND 33,840 (about USD 1.29) per litre, while E5 RON 92 increased by VND 2,940 to VND 30,110 per litre.
Oil products, excluding mazut, also climbed by between VND 2,080 and VND 6,240 per litre. Diesel now costs VND 39,660 per litre and kerosene VND 40,450 per litre.
Authorities continued to draw on the price stabilisation fund, allocating VND 4,000 per litre for diesel and VND 3,000 for petrol, kerosene and mazut, marking the seventh consecutive use of the mechanism to curb rising costs.
The Ministry of Finance has proposed cutting the environmental protection tax on petrol, excluding ethanol, from VND 2,000 to VND 1,000 per litre, and halving the levy on diesel to VND 500. The tax on jet fuel could also be reduced to VND 1,000.
If approved, the reductions could lower petrol prices by around VND 1,080 per litre, and diesel and jet fuel by about VND 540, including value-added tax.