From 15.00 today [February 25], the retail price of biofuel E5 and RON92 rose by VND722 to around VND17,031 (US$0.74) per liter, and that of RON95-III went up by VND814 to VND18,084 (US$0.79) per liter.
|Prices for a number of petroleum products are increased from today. Photo: Kinhtedothi|
The move came after the latest review on petrol prices jointly released by the Ministry of Industry and Trade and the Ministry of Finance on the same day.
The two ministries agreed to raise the subsidy for E5 and RON92 from the petrol price stabilization fund by VND2,000 per liter, higher than the VND1,729 from the previous review; RON95 at VND1,150; diesel (VND850); kerosene (VND900); and mazut (VND800).
Following this adjustment, prices of E5 and RON92 would not be higher than VND17,031 per liter; RON95-III (VND18,084 per liter); diesel 0.05S (VND13,843 per liter); kerosene (VND12,610 per liter); mazut 180CST 3.5S (13,127 per kilogram).
In the previous price review meeting on February 10, before the Tet holiday, petrol prices were kept unchanged thanks to the petrol price stabilization fund.