Petrol prices go up on October 1

Wednesday, Oct 02, 2019 08:52

Customers buy fuel at a petrol station in Ha Noi. — Photo

The retail prices of petrol and oil increased at 6pm on October 1 following the latest price review by the ministries of Industry and Trade, and Finance.

Bio-fuel E5 RON 92 went up VND666 to VND19,780 (US$0.86) per litre, and RON95 increased by VND923 to reach VND21,066($0.91).

The prices of diesel and kerosene went up by VND438 and VND424 to VND16,638 ($0.72) and VND15,786 ($0.68)per litre, respectively. The price of mazut was capped at VND14,919 ($0.65) per kilo, up VND829.

This was the first increase since July, said Petrolimex in its press release, adding the increase was inline with growing global prices of the products in accordance with local regulations.

According to the two ministries, the average price of petrol and oil in the world market had seen strong increases in the 15-day period before the latest price review.

The two ministries said global petrol prices hit $72.18 per barrel of petrol RON92 while the price of RON95 reached $78.57 per barrel.

As of October 1, the balance of the petrol price stabilisation fund at Viet Nam National Petroleum Group (Petrolimex) was VND1.12 trillion (US$48.45 million), an increase of VND151 billion ($6.5 million) from the previous adjustment on September 16. — VNS

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