The domestic retail price of RON 92 petroleum increased by VND357 to reach VND16,426 (73 US cents) per litre as of 3pm on Thursday, the Ministry of Industry and Trade (MoIT) said.

The price of E5 bio-fuel also rose by VND333 to VND16,251 per litre. The prices of diesel and kerosene went up by VND372 and VND271 to VND13,329 and VND11,936 per litre, respectively. The price of mazut was VND10,833 per kg, an increase of VND57.

The MoIT and the Ministry of Finance also decided to keep using the price stabilisation fund for petroleum unchanged at VND639 per litre. Use of the fund for E5 RON 92 biofuel remained at VND672 per litre, while diesel was VND846 per litre, kerosene was VND1,029 per litre and mazut was VND323 per kg.

Retail petrol price in Singapore — the main petrol exporter to Viet Nam — was $57.85 per barrel. This was $3 per barrel higher than the previous price adjustment on July 20.

The local retail price of petrol has increased four times and decreased five times this year.

In the latest adjustment on July 6, domestic retail prices of RON 92 petrol and bio-fuel E5 dropped VND435 and VND431 per litre to VND16,069 and VND15,918, respectively.

Prices of diesel, kerosene and mazut, meanwhile, rose by VND122 and VND285 per litre and VND110 per kg, respectively, to VND12,957 (57 US cents) and VND11,665 (51 US cents) per litre. The price of mazut is VND10,776. — VNS