Customers buy fuel at a petro station in Hà Nội. The retail prices of petrol products, increase from 3pm on August 15. — Photo of VNA

The Ministries of Industry and Trade and of Finance have decided to increase the retail prices of petrol products, effective from 3pm on August 15.

Accordingly, the price of E5RON92 bio-fuel is capped at VNĐ20,882 (US$0.83) per litre, an increase of VNĐ167 per litre. Meanwhile, the price of RON95-III rose by VNĐ179 to reach VNĐ21,852 per liter.

For the diesel fuel 0.05S and kerosene, the maximum prices are set at VNĐ19,230 and VNĐ19,572 per litre, up 89 and VNĐ161 per litre, respectively. Mazut oil 180CST 3.5S is now sold at no more than VNĐ16,245 per kg, rising by VNĐ217 per kg.

The two ministries decided to keep the petrol price stabilisation fund unchanged.

They noted that the global petrol market during this adjustment period (from August 8 to 14) was influenced by several factors, including new developments in the Middle East conflict, rising US crude oil reserves, and the ongoing Russia-Ukraine conflict. — VNS