Vietnam's ministries of Industry and Trade and Finance have raised retail fuel prices for the second consecutive pricing period, with the new rates taking effect from 3 pm on July 23.
Under the latest adjustment, the price of E5 RON 92 petrol increased by VND 1,060 per litre (USD 0.04) to VND 20,880 per litre (USD 0.80), while E10 RON 95 petrol rose by VND 880 per litre (USD 0.03) to VND 21,430 per litre (USD 0.82).
Diesel recorded the largest increase, rising by VND 2,440 per litre (USD 0.09) to VND 25,760 per litre (USD 0.98). Mazut increased by VND 1,110 per kilo (USD 0.04) to VND 15,560 per kilo (USD 0.59).
The authorities also decided to continue using the national fuel price stabilisation fund to moderate retail prices. Subsidies from the fund were set at VND 1,000 per litre (USD 0.04) for petrol, VND 1,500 per litre (USD 0.06) for diesel and VND 1,000 per kilo (USD 0.04) for mazut.
The latest adjustment marks the second consecutive increase following one previous price cut. Despite the recent rises, Vietnam's retail fuel prices remain lower than those in a number of neighbouring countries.
Meanwhile, several local authorities, including those in Hanoi and Ho Chi Minh City, have introduced inspection programmes to monitor the quality of E10 biofuel sold on the market.
In Hanoi, inspections will focus on compliance with technical standards, measurement regulations and fuel quality requirements throughout the production, blending, storage, distribution and retail supply chain for E10 petrol.
