Fuel prices continue to climb

The ministries of Industry and Trade and Finance decided to increase retail prices of oil and petrol products on December 11. Accordingly, gasoline prices rose by nearly VND700 per liter.
Specifically, the prices of petroleum products started to increase from 4 p.m. on December 11. However, the price of E5 RON92 gasoline is not higher than VND15,129 per liter, an increase of VND635 per liter from the current price; the price of RON95 gasoline is not higher than VND16,007 per liter, an increase of VND656 per liter compared to the current price. Oil prices also climbed. Diesel oil 0.05S surged by VND458 per liter, kerosene soared by VND639 per liter, and fuel oil 180 CST 3.5S edged up VND200 per kilogram.

Due to the sharp increase in gasoline prices, the ministries decided to stop the appropriation of the Fuel Price Stabilization Fund for E5 RON92 gasoline, diesel oil, kerosene, and fuel oil and only set aside the fund for RON95 gasoline at VND100 per liter. At the same time, the ministries keep the same spending levels of the fund for petroleum products at VND1,000 per liter for E5 RON92 gasoline and VND200 per liter for RON95 gasoline.

By Phuc Van – Translated by Thanh Nha

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