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| The domestic retail price of petroleum surged by VND702 to touch VND16,076 (71 US cents) per litre at 3pm yesterday. — Photo petrolimex.com.vn |
HA NOI (Biz Hub) — The domestic retail price of petroleum surged by VND702 to touch VND16,076 (71 US cents) per litre at 3pm yesterday, the Ministry of Industry and Trade (MOIT) said.
The price of E5 RON 92 biofuel also rose by VND611 to touch VND15,836 per litre. The prices of diesel and kerosene went up by VND474 and VND489 to reach VND12,388 and VND10,985 per litre, respectively. The price of mazut was at VND9,339 per kg, an increase of VND502.
The MOIT and the Ministry of Finance also decided to keep the use of the price stabilisation fund for petroleum unchanged at VND300 per litre.
The increase was a result of the rising petroleum price in the Singapore market over the past 15 days, reaching $54.7 per barrel, 9.3 per cent higher than the previous fortnight.
The price of diesel rose 5.8 per cent, kerosene increased 61 per cent and mazut was up 8.6 per cent in the market.
Domestic fuel wholesalers reported a loss of VND800 per litre for petroleum and VND500 per litre for kerosene.
The domestic retail price of petroleum also increased by VND675 to touch VND15,374 per litre on August 19 after four instances of decrease.
In addition, the price of E5 RON 92 biofuel rose by VND975 to VND15,225 per litre. The prices of diesel and kerosene went up by VND253 and VND200 to VND11,914 and VND10,496 per litre, respectively. The price of mazut was at VND8,837 per kg, increasing by VND214. — VNS