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 petrol increased by VND540 per litre to VND26,070 and VND550 to VND26,830 respectively.
Retail petrol prices rose from 3 pm on Tuesday, marking the sixth consecutive rise since December 25 last year
Meanwhile, the price of diesel and kerosene grew by VND510 and VND470 per litre to VND21,310 and VND19,970 respectively.
Mazut oil witnessed a rise of VND530 per kilo to VND18,460.
The latest price hike on petroleum products saw the highest increase of VND960 per litre.
The conflict in Ukraine is the major cause for higher petroleum prices.
On Monday, Prime Minister Pham Minh Chinh asked the ministries of finance and industry and trade to submit their proposal on an environmental protection tax adjustment for petroleum products.
Last week, Minister of Industry and Trade Nguyen Hong Dien signed a decision to assign ten enterprises to import an additional 2.4 million cubic metres of petroleum products in the second quarter of 2022. This move was intended to compensate for a fall in domestic output.
