Petrol prices stable, oil prices slightly increase

Customers fill up their tanks at a petrol station on Tran Hung Dao Street in Ha Noi. Retail petrol prices will remain stable despite global price hikes thanks to the Government's Price Stabilisation Fund. — VNS Photo Truong Vi HA NOI (VNS)— The Ministry of Finance decided yesterday to allow domestic petrol retailers to receive more money from the Price Stabilisation Fund in a move to keep domestic petrol prices stable in the wake of a global price hike. Accordingly, petrol retailers will get VND2,000 per litre against the current VND1,000 from the Price Stabilisation Fund. The compensation rate for…... [read more]

  Mai Linh Taxi has raised its fare from VND12,000 to VND13,500 per km for the first 30km following the latest hike in domestic fuel prices. — VNA/VNS Photo The Duyet HCM CITY — The latest hike in domestic fuel prices has surprised and dismayed many businesses and experts. Do Quoc Binh, chairman of the Ha Noi Taxi Association, called the hikes "stunning and unbelievable." He said the higher fuel prices would have an enormous impact on people and businesses in general and taxi drivers in particular. "Taxi drivers are already suffering income losses of about VND50,000 per day, or…... [read more]

The retail price of petrol hikes up again in Vietnam when A92 fuel is sold at VND23,800 a liter as of 20:00 yesterday -- up 900 dong a liter, according to a decision approved by the Ministry of Finance.    People flock to buy fuel at a pump station before the new petrol price takes effect by increasing 900 dong a liter Diesel is also priced up 500 dong a liter, to VND21,900 while kerosene in increased 600 dong a liter to VND21,400.Days ago, four key petroleum wholesalers were seeking approval from the ministry to increase retail prices, citing that…... [read more]

PM Nguyen Tan Dung has asked the Ministries of Finance and Industry and Trade to regulate petroleum prices in line with the market and to ensure transparent pricing. The PM made the request at a meeting with the ministries on the afternoon of July 15 to review petrol price regulation in the first half of this year and plans for the second half. Petrol prices in Vietnam slightly lower than in other regional countries Reports by these ministries showed large fluctuations in world petrol prices during the first six months of the year, affecting domestic fuel prices. They said that…... [read more]

Illustrative image (Source: VNA)Hanoi (VNA) - The price of RON92 gasoline was slashed by 341 VND to 16,168 VND per litre on the afternoon of June 20, as under a joint decision by the Ministries of Industry and Trade, and Finance.Bio-fuel E5 also experienced a price cut of 336 VND, down to 15,647 VND per litre.Meanwhile, respective prices of diesel and kerosene increased by 390 VND, and 370 VND per litre, resulting in a cost of 12,298 VND per litre for diesel and 10,667 VND per litre for kerosene.This is the first time the price of petrol has been cut…... [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]

The low rise in rate has also been connected to a sharp decline in purchasing power in January compared with the same month in previous years, said the office. According to a representative of Big C Supermarket, quoted by VnEconomy newspaper, there have been only modest increases in sales of garments and household items, while sales of rice and other food commodities have remained stagnant. The approaching Tet holiday means more people are rushing to buy goods and food items, thus driving up prices. The HCM City Statistics Office said 10 of the 11 items that were typically used to…... [read more]

The average global prices of RON 92 during the last 15 days to December20 was 63.451 USD per barrel, up 5 USD per barrel, whilst that of diesel 0.05Swas 62.557 USD per barrel, lifting 4.7 USD per barrel. The ministries also decided to keep retailers’ contribution to thePetroleum Price Stabilisation Fund unchanged and give them subsidy of 600 VNDper litre for RON 92 and E5 from the fund. Meanwhile, subsidy on diesel was 250VND per litre.It marked the 24th adjustment of petrol price this year with13 increases totaling nearly 6,000 VND (0.263 USD) per litre, nine cuts with atotal amount…... [read more]

The July CPI in Hanoi grew by 0.18 per cent against the previous month's level and 0.77 per cent over the same month last year, the statistics office of Hanoi reported on July 22. Nine of the 11 groups of goods used to calculate the CPI reflected a rise in prices this month. Of these, the price for the group comprising restaurant and catering services showed a growth of 0.13 per cent due to a strong surge in food prices. The price for the group of housing, electricity, tap water, fuel and building material increased by 0.32 per cent because…... [read more]

The retail prices of RON 92 petrol and E5 bio-fuel remained unchanged at VND18,580 (81 US cents) and VND18,243 per litre, respectively, at 3pm on Tuesday after continuous increases in recent months.In addition, the price for oil was also kept stable at VND13,617 per litre and mazut at VND12,382 per kilo.The price of diesel was slightly increased by VND150 to VND15,169 per litre.The ministries of industry and trade and finance said the decision came following a small decrease in the world petrol price.The finance ministry also said average petrol price in the world market over the past 15 days had…... [read more]