WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Petrol prices rise by over VND600 per liter
Hai Yen 17:56, 2021/06/11
Following the adjustments, prices of E5, RON92 and RON95 reached the highest since February 14, 2020.

From 15.00 today [June 11], the retail price of biofuel E5 and RON92 rose by VND622 to around VND19,048 (US$0.83) per liter, and that of RON95 went up by VND633 to VND20,164 (US$0.88) per liter.

 Chart: Hai Yen

Following the adjustments, prices of E5, RON92 and RON95 reached the highest since February 14, 2020. For the past seven months, prices of E5 and RON92 increased by a total of VND5,163 (US$0.22) per liter, and RON95 by VND5,463 (US$0.24).

While petrol prices remained unchanged in late May in the last price adjustment, retail prices of petroleum products have returned to the upward trend.

The move came following the latest review on petrol prices jointly released by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) on the same day, which was held by every 15 days.

 Retail prices of petroleum products have returned to the upward trend. File photo

Meanwhile, price of kerosene was posted at VND14,412 (US$0.63) per liter; diesel of VND15,448 (US$0.67); mazut of VND14,954 (US$0.65) per kilogram; representing sharp increases by VND584-674 per liter/kilogram.

Both the MoIT and the MoF decided to subsidize for E5 and RON92 prices with finance from the petrol price stabilization fund with VND1,600 and VND600 for RON95; diesel (VND300); and kerosene (VND200).

The two ministries said the petrol price stabilization fund was key to keep petrol prices from increasing at a more moderate pace to support enterprises and the people.

“Without the fund, petrol prices may even go up by VND675-2,222 per liter/kilogram,” said the ministries.

RELATED NEWS
TAG: Vietnam petrol prices E5 RON92 RON95
Other news
21:34, 2024/09/19
Vietnam stock market clears major legal hurdle to potential upgrade
Starting November 2, foreign investors will no longer be required to pre-fund 100% of their transactions, promising the removal of a major roadblock for Vietnam's market upgrade process.
17:29, 2024/09/01
Cashless parking in Hanoi: Good model fuels smart transport
Hanoi’s leaders believe that all that's left to do is act with the ultimate goal of serving people from smart transportation, armed with the mindset and solutions of a new global vision and thinking.
22:36, 2024/08/26
Banking sector dominates Vietnam’s corporate bond market
The increase in bank bond issuance is largely driven by the need to comply with the State Bank of Vietnam’s capital adequacy requirements.
17:41, 2024/08/06
Prime Minister expects lending to grow by 15% this year
Key challenges for the remainder of the year include lowering interest rates, providing low-cost credit, and adopting cost-cutting technologies.
17:37, 2024/08/06
Vietnam, Singapore strengthen partnership in stock exchange operations
The two sides will focus on cooperation in digital transformation, cybersecurity, tax management, and market operations.
12:32, 2024/07/25
HSBC raises Vietnam’s GDP growth forecast to 6.5% in 2024
Vietnam’s Q2 GDP growth surged to 6.9%, the highest in two years and well above market expectations of 6%.