Sunday,  Jun 7, 2020,17:04 (GMT+7) 0 0
Local fuel prices edge up
The Saigon Times
Wednesday,  May 13, 2020,18:31 (GMT+7)

Local fuel prices edge up

The Saigon Times

A motorbike is refilled at a local gas station. Fuel retail prices inched up on May 13 – PHOTO: VNA

HCMC – Fuel retail prices were raised slightly at 3 p.m. today, May 13, after eight consecutive cuts since early 2020, according to an announcement jointly issued by the Industry and Trade and Finance ministries.

E5 RON92 bio-fuel and RON95-III gasoline are priced at over VND11,500 per liter and more than VND12,200 per liter, up VND578 and VND604 per liter, respectively, the local media reported.

Meanwhile, the ceiling prices of diesel oil 0.05S, kerosene and heavy fuel oil inched down by VND84 and VND83 per liter and VND125 per kilogram to VND9,857, VND7,882 and VND8.545, respectively.

Local fuel traders were told to extract VND100 for each liter of bio-fuel E5 RON92 sold to replenish the national fuel price stabilization fund. The respective extraction levels for each liter or kilogram of RON95 gasoline, diesel oil, kerosene and heavy fuel oil sold are VND800, VND1,400, VND1,600 and VND500.

The two ministries noted that the fuel price hike followed a rise in global fuel prices over the past 15 days. Each barrel of bio-fuel E5 RON92 and RON95 gasoline sold for US$24.420 and US$26.424, up US$5.9 and US$6.7 per barrel, respectively.

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