Under a decision by the Ministry of Industry and Trade and Ministry of Finance, the retail prices of E5 RON 92 and RON 95 increased by VND380 and VND490 per litre to VND22,800 and VND23,810 respectively.
Prices of petroleum products have risen again from 3 pm today, March 13, following two consecutive falls
Diesel prices grew by VND250 per litre to VND20,500; kerosene increased by VND240 per litre to VND20,710; and mazut oil rose by VND720 to VND15,270 per kilo.
Petroleum prices in Vietnam have been increased five times, reduced twice and kept unchanged once so far this year.
The Vietnam News Agency cited a report from the Ministry of Industry and Trade saying that Vietnam’s national petroleum reserves were quite low, at around 300,000 cubic metres, equivalent to only nine days of net import and seven days of consumption, lower than demand.
The ministry proposed national petroleum reserves should be raised from nine days of net import to 15 days and 30 days in the 2026-30 period.
It was estimated that Vietnam would need around VND4.1 trillion (USD173.7 million) per year to increase reserves.
