The domestic retail price of RON 92 petroleum increases by VND434 to trade at a maximum of VND18,580 (81 US cents) per litre, as of 3pm on Monday. — Photo cafef.vn

The domestic retail price of RON 92 petroleum increased by VND434 to trade at a maximum of VND18,580 (81 US cents) per litre, as of 3pm on Monday.

The ministries of industry and trade and finance also decided to raise the price of E5 bio-fuel by VND385 to VND18,243 per litre. The prices of diesel and kerosene also rose by VND408 and VND419 per litre to VND15,019 and VND13,617, respectively. Meanwhile, the maximum price of mazut was VND12,382 per kilo, an increase of VND473.

The two ministries also decided to keep using the price stabilisation fund for RON92 petrol and E5 bio-fuel at VND600 per litre. The use of the fund for diesel increased to VND300 per litre.

The use of the fund for kerosene was VND400 per litre and mazut VND350 per kilo.

The Ministry of Industry and Trade said retail petrol price in Singapore, the main petrol exporter for Viet Nam, was $74-75 per barrel. This was $2-3 per barrel higher than the previous price adjustment on November 4. The petrol retail price in the market rose by $2-3 per barrel from the beginning of this year.

In the latest adjustment on November 4, domestic retail prices of RON 92 petrol and bio-fuel E5 rose by VND271 and VND224 per litre to VND18,146 and VND17,858, respectively.

Petrol prices have seen under 21 adjustments, so far, this year, with nine increases, nine decreases and three instances of staying unchanged. — VNS