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Fuel prices surge ahead of Tet holiday

The Saigon Times

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HCMC – Retail prices of fuels rose by around VND750 per liter at 3:00 p.m. today, February 1, just nine days before the start of the week-long Tet holiday.

According to a joint decision by the ministries of Industry-Trade and Finance, RON 95-III gasoline, the most popular gasoline in Vietnam, is now capped at VND24,160 per liter, up by VND760, and E5 RON 92 bio-gasoline at VND22,910 per liter, an increase of VND740.

Other fuels have also marked up in price. Diesel oil is up by VND620 per liter to VND20,990 and kerosene inches up by VND380 to VND20,920 per liter.

Heavy fuel oil costs VND16,080 per kilogram, up by VND590.

This is the fourth fuel price hike since the start of the year. During this adjustment, no surcharge is imposed on any fuel types and local fuel traders are not permitted to tap into the fuel price stabilization fund.

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