The petrol retail prices were increased by nearly VND1,000 on Friday. — VNA/VNS Photo Hoang Hai

The ministries of Industry and Trade and Finance revised petrol prices up as of 3pm on Friday, marking the third consecutive increase so far this year.

The retail price of bio-fuel E5 RON 92 rose by VND988 per litre to VND13,390 (US$0.57) while that of RON 95 increased by VND955 per litre to a level of VND14,080.

The prices of diesel and kerosene were increased by VND766 and VND853 to VND11,515 and VND9,610 per litre, respectively. Meanwhile, the price of mazut was VND830 per litre higher to cap at VND10,322 per kilo.

The two ministries review fuel prices every 15 days to keep domestic prices up to date with the global market.

In the two weeks before June 12, world petrol prices went up by between 21 per cent and 19 per cent.

In the past fortnight, global petrol prices were on the rise at $39.56 a barrel of petrol RON92 and that of RON95 was $42.4 a barrel.

The ministries decided to increase expenditure for the petrol price stabilisation fund by VND100 per litre of E5 RON 92 and VND400 per litre of RON 95.

In the latest adjustment on May 28, the two ministries also increased the prices of E5 bio-fuel and Ron 95 by VND882 and VND890 per litre respectively. — VNS