31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam petrol prices set new record at US$1.42 per liter
Ngoc Mai 21:18, 2022/06/21
This marked the seventh price hike since April 21.

The retail prices of biofuels E5-RON92 rose by VND190 to VND31,300 per liter (US$1.35) and RON95 by VND500 to a record high of VND32,870 ($1.42) from 3:00 pm today [June 21].

 A petrol station at Giai Phong Street, Hanoi. Photo: Viet Dung

RON95 currently makes up 70% of the total amount of consumed petroleum products in the domestic market.

The move came following the latest 10-day review on petrol prices jointly conducted by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) on the same day, marking the seventh price hike since April 21. Since last month, prices of RON95 rose by VND5,560 per liter, and E5-RON92 by VND4,830.

The price of kerosene was posted at VND28,780 ($1.24) per liter, up nearly VND950; diesel at VND30,010 ($1.29), or an increase of VND990; and the price of mazut went up by VND380 to VND20,730 ($0.89) per kilogram.

According to the ministries, prices of petrol on the global market continue their upward trends during the interval of the two price adjustments, with supplies becoming limited due to the Western’s ongoing sanctions against Russian oil and high demand from countries around the world.

For the past ten days, the price of kerosene climbed by an average of 4% to $169.25 per barrel; diesel by 3.6% to $172.56, while those of petroleum products went down slightly by 0.21-0.95%.

To curb the rising prices of petrol and oil products, the two ministries have decided to subsidize prices of diesel and kerosene with VND400 and VND300 per liter, respectively, from the petrol price stabilization fund.

TAG: Vietnam petrol prices vietnam ron95 vietnam e5-ron92 vietnam petroleum
Other news
22:09, 2022/09/02
New milestone in Vietnam’s relations with Hungary, UK
The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership.
20:09, 2022/09/30
Vietnam-UK target US$10-billion trade turnover by 2023
UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities.
19:59, 2022/59/30
UK multinationals pledge long-term presence in Vietnam
Vietnam expects to create the utmost favorable environment for foreign companies to be successful in the country.
14:30, 2022/30/30
“Japan Street” to bolster Vietnam-Japan business cooperation: JETRO
More than 100 Japanese companies in the food industry and 30 in cosmetics are looking for partners and expanding business in Vietnam.
07:16, 2022/16/30
Vietnam, UK seek closer relations
Vietnam remains supportive and would serve as the bridge for the UK to expand its partnership with ASEAN, calling for the UK parliament to support ASEAN’s central role in the region, as well as Vietnam’s stance on regional security issues.
16:57, 2022/57/29
Media outlets and businesses form strong bond in difficult times: Experts
At a time of rampant unverified and fake news, official and credible information provided by the press has been guiding the businesses forward.