According to 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 VND1,490 and VND1,550 per litre to VND28,950 and VND29,980 respectively.
Diesel increased by VND1,120 per litre to VND26,650, while prices of kerosene grew by VND1,340 to VND25,160 per litre. Meanwhile, mazut oil remained unchanged at VND21,560 per kilo.
The country has conducted 12 petroleum price adjustments so far this year, including nine price rises. This has been partially attributed to higher fuel prices in the global market amid the ongoing Russia-Ukraine conflict.
Nghi Son Oil Refinery and Petrochemical Plant, the largest of its kind in Vietnam that makes up approximately a third of the country’s total petrol demand, has also cut its production capacity, resulting in a decrease in petrol supply in the domestic market.
However, the Ministry of Industry and Trade pledged to ensure petroleum supplies for the domestic market in the second quarter.
