The retail price of biofuel E5 RON 92 rose VND300 to VND19,911 (85 US cent) per litre on Thursday after two months remaining unchanged, the ministries of industry and trade and finance have announced.

The price of RON 95 also rose by VND300 to VND21.477 per litre, while the prices of diesel and kerosene went up by VND383 and VND296 to VND18,069 and VND16,559 per litre, respectively.

The price of mazut increased by VND173 to VND14,916 per kilo.

According to the Ministry of Industry and Trade (MoIT), the two ministries review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market.

The global price for RON92, which is the base for the production of E5 petrol, stood at $85 per barrel in the 15-day period prior to September 5, increasing $3.22 a barrel. RON95 was sold at $87.2 per barrel, up $4.8 from the previous adjustment.

The two ministries also decided to increase the use of the petrol price stabilisation fund for E5 RON 92 from VND1,272 to VND1,563; RON 95 from VND697 to VND960; diesel VND400 and kerosene VND300 per litre. Kerosene and diesel did not use the fund in the previous adjustment.

The price of ethanol E100, which is used as the basis for the calculation of the price of biofuel E5 RON 92 after the elimination of petrol RON 92, stands at VND14,874 per litre without value added tax. — VNS