Vietnam's Ministry of Industry and Trade and Ministry of Finance have raised retail fuel prices, with the new rates taking effect from 3 pm on July 16.
Under the latest adjustment, the price of E5 RON 92 petrol increased by VND 630 per litre (USD 0.02), while E10 RON 95 petrol rose by VND 550 per litre (USD 0.02). Retail prices now stand at VND 19,820 per litre (USD 0.75) for E5 RON 92 and VND 20,550 per litre (USD 0.78) for E10 RON 95.
Diesel prices climbed by VND 1,580 per litre (USD 0.06) to VND 23,320 per litre (USD 0.89), while mazut increased by VND 720 per kilo (USD 0.03) to VND 14,450 per kilo (USD 0.55).
During the latest pricing period, the authorities also authorised the use of the petroleum price stabilisation fund. The fund will subsidise diesel by VND 1,500 per litre (USD 0.06) and mazut by VND 500 per litre (USD 0.02).
The latest adjustment reverses the previous round of fuel price reductions. Despite the increases, retail fuel prices in Vietnam remain lower than those in many other countries across the region.
