Petrol prices increase by over VND400 per litre

The Ministry of Industry and Trade and the Ministry of Finance announced that the prices of E5 are not higher than VND18,672 per litre, and those of diesel 0.05S and kerosene should not be higher than VND15,959 per litre and VND14,560 per litre, respectively. The changes took effect from 15:00 on January 19. The two ministries also decided to keep using the price stabilisation fund for E5 bio-fuel at VND857 per litre while the use of the fund for diesel was VND400 per litre, unchanged from the previous adjustment. The Ministries of Industry-Trade and Finance conducted a review of fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market. The average global price of petrol products during the last 15 days to January 19 was at US$76.243 per barrel for RON 92 and US$80.214 for diesel.  This is the first increase of the petrol and oil prices in 2018. In 2017, petrol and oil prices were adjusted 24 times, including nine hikes and nine drops.

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