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.
The Hanoi Times - State agencies have twice rejected proposals in the last ten days by key petrol importers to raise the retail petrol price, though importers complain they are incurring losses as the world's petrol price keeps rising. In the most recent case, five key petrol importers, including Petrolimex, which is now holding 60 percent of the market share, registered to raise the retail petrol price by 500 dong per litre. However, the proposal was rejected by the Ministries of Finance and Industry and Trade, which have asked the enterprises to keep sale prices stable and keep watch over…... [read more]
The recent petrol price increase, which would trigger a new price hike wave, has dazed businessmen, who have been seriously ill already from a lot of difficulties. Le Thanh Son, a senior executive of Anh Phu Paper Company in Que Vo Industrial Zone of Bac Ninh province, said that he heard the news about the petrol price increase just some days after the news about the 20 percent environment fee. Son said that the petrol price increase would only have moderate impacts on the production, if businesses could access capital sources at moderate costs. However, as the lending interest rates…... [read more]
It's going to cost even more to get around Ho Chi Minh City in a taxi these days, as fares are up by 4 to 6 percent in response to global petrol price increases. Fares are to shoot up to VND7,000-8,000 per kilometer (around US50¢) by the end of Aug, with petrol prices now up to VND10,000 a liter (63¢) in Vietnam. This is the second fare increase in a month, announced the HCMC's Taxi Association Monday. Fares are to go up by VND363 per km on average, to make up for the 14 per cent rise in fuel prices,…... [read more]
Nhan Dan - Domestic prices of petrol increased by VND300 per litre at 8pm on February 21, which has resulted from price rises on the world market during the past month. The new prices of RON 92 and RON 95 petrol have been set at VND24,510 and VND25,010 per litre respectively. At the same time, prices of kerosene, diesel and fuel oil went up by VND230, VND240 and VND200 per litre. This is the first price increase in 2014. The price adjustment was made under the authority of the ministries of Finance and Industry and Trade, which allowed petrol companies…... [read more]
Nhan Dan Online - The Ministry of Finance (MoF) on the evening of June 23 allowed petrol distributors to increase fuel prices by a maximum of VND 340 per litre, the highest level so far this year. As of 8pm yesterday, retailers including the Vietnam National Petroleum Group (Petrolimex) increased their per-litre gasoline prices (in Region 1 - urban areas) by VND 330 to VND 25,230 (RON 92) and VND 25,730 (RON 95). For Region 2 - outlying areas and areas far from ports, the prices for RON 92 and RON 95 rose to VND 25,730 and VND 26,240 per…... [read more]
