Fuel price hike in the year

09:38 | 12/03/2015

VGP – The country’s largest fuel wholesaler, raised the retail price of several fuel varieties as of 15:00 pm on March 11, ending months of price cuts.

Accordingly, the prices of petrol RON95 andpetrol RON92 jumped VND1,610 ($0.075) per liter to VND17,880 ($0.84) and VND17,280 ($0.81) per liter, respectivel.

While bio-fuel E5 price increased by VND1,600 per litre to VND16,950 ($0.8).

Now, Mazut costs VND12,760 ($0.6) per liter, up VND910 ($0.042).

Diesel and kerosene prices rose by VND710 ($0.03) to VND15,880 ($0.74) and VND16,320 ($0.76) per liter, respectively.

Minister of Planning and Investment Bui Quang Vinh said earlier this year that since Viet Nam’s imports of refined oil products outstrip its crude exports, the economy can benefit from lower input and transport costs.

In February, Viet Nam’s annual inflation dropped to 0.34% from 0.94% in January, thanks largely to lower transport costs as a result of falling fuel prices.

By Vien Nhu