The Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) announced that the prices of E5 must not be higher than VND 20,331 per liter, while those of RON 95 should not be higher than VND 21,770 per liter.
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The retail price of bio-fuel E5 increased by VND 320 per liter, while that of RON 92 rose VND 293 per liter from 3pm on September 21 |
Meanwhile, the ceiling prices of diesel 0.05S, kerosene, and mazut 180CST 3.5 S are capped at VND 18,126 per liter, VND 16,638 per liter, and VND 14,942 per liter, up VND 57, VND 124 , and VND 26 per liter, respectively.
The global oil and petrol prices have surged to USD 86-91 a barrel. The price of RON 92, which is used to produce bio-fuel E5, increased from USD 85.8 in the previous adjustment to USD 86.8 per barrel.
The two ministries have also decided to keep the use of subsidies from the petrol price stabilization fund unchanged. Subsidies for E5 RON 92 are VND 1,563 per liter, while those for RON95, diesel, and kerosene are VND 960, VND 400, and VND 300 per liter.
The fund has been used constantly in recent times to mitigate the impact of rising global prices and contribute to curbing the inflation rate.
Announcements regarding fuel price changes are scheduled every 15 days to keep up with swings in the global market.
This has been the second consecutive rise within nine months after ministries had tried to keep the selling price unchanged by using the price stabilization fund.
Source: VNA