Vietnam's Ministry of Industry and Trade and Ministry of Finance announced higher retail fuel prices effective from 3 pm on September 10.
Petrol prices rose sharply from 3 pm on September 10 (Photo: Manh Quan).
Under the latest adjustment, the price of E5 RON 92 petrol increased by VND 1,260 per litre to VND 23,740 per litre (USD 0.91), while E10 RON 95 rose by VND 960 per litre to VND 24,230 per litre (USD 0.93).
Diesel prices were also raised, increasing by VND 740 per litre to VND 28,480 per litre (USD 1.10). Mazut climbed by VND 510 per kilo to VND 18,150 per kilo (USD 0.70).
In this pricing period, regulators decided not to make contributions to the fuel price stabilisation fund. Instead, the fund will be used to support petrol prices at VND 500 per litre.
The latest move means domestic petrol prices have now risen for a second consecutive pricing cycle following one previous decrease.
Despite the increases, fuel prices in Vietnam remain lower than those in several neighbouring countries in the region.
The adjustment comes as global oil markets experience renewed volatility. Brent crude recently surpassed USD 100 a barrel for the first time since July as traders reacted to escalating conflict in the Middle East and growing concerns over potential supply disruptions.
