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Thursday, July 25, 2024

Fuel prices rise after three consecutive cuts

The Saigon Times

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HCMC – The domestic retail prices of fuels were revised up at today, May 22, according to an announcement jointly released by the ministries of Industry-Trade and Finance.

After three cuts in a row, RON 95-III gasoline picked up VND490 at VND21,490 per liter. Meanwhile, E5 RON92 bio-gasoline is now priced at VND20,480 per liter, up by VND350.

Diesel oil now costs VND17,950 per liter, increasing by VND300, and kerosene barely changed, at VND17,960.

Heavy fuel oil is now capped at VND15,150 per kg, dropping by VND290.

During this fuel price adjustment, the two ministries decided to replenish the national fuel price stabilization fund with a surcharge of VND300 for each liter of fuel sold.

Local fuel traders are not allowed to tap the fuel price stabilization fund.

Since the beginning of the year, local fuel prices have been put under review 15 times, with eight increases, six decreases, and one time of no change.

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