The prices of RON 92 petrol and bio-fuel E5 increased by 47 VND and 43 VND per litre as from 3:00 pm on November 4.

Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene remained stable. Meanwhile, the price of 180CST 3.5S mazut decreased slightly by 5 VND per kilograme.

(Photo for illustration)

This is the sixth consecutive fuel price hike in recent times with a total increase of 2,300 VND (0.103 USD) per litre. It also marked the 21st adjustment this year, with 11 increases, totally nearly 5,000 VND (1.012 USD) per litre; eight falls, totally about 4,463 VND (0.2 USD) per litre; and two times unchanged.

Under the joint decision, RON 92 and E5 are sold at no more than 16,892 VND (0.76 USD) and 16,576 VND (0.74) per litre, while the ceiling prices of diesel and kerosene are 13,023 VND (0.59 USD) and 11,543 VND (0.51) per litre.

The ministries said the global price of RON 92 during the last 15 days to November 4 was 60.185 USD per barrel, up 0.2 USD per barrel, while that of diesel 0.05S was 60.808 USD per barrel, contracting by 0.5 USD per barrel.

They also decided to keep retailers’ contribution to the Petroleum Price Stabilisation Fund unchanged and give them a subsidy of 600 VND per litre for RON 92 and E5 from the fund. Meanwhile, subsidies on diesel and kerosene were 219 VND and 114 VND per litre, respectively.

The base fuel prices will be adjusted by the two ministries every 15 days, depending on the fluctuation of world oil and gas prices since the previous announcement and should be in accordance with the government’s Decree 83/2014/ND-CP, and Circular 39/2014/TTLT-BCT-BTC.

Source: VNA