HCMC – Retail fuel prices in the local market soared by VND570-650 per liter or kilogram starting 3 p.m. today, November 26, according to an announcement jointly released by the Ministry of Industry and Trade and the Ministry of Finance.
The price of E5 RON92 gasoline is now VND14,494 per liter, up by VND609, while the price of RON95 gasoline is capped at VND15,351 per liter, up by as much as VND650.
The respective prices of diesel oil, kerosene and heavy fuel oil are capped at VND11,434, VND10,138 and VND11,742 per liter or kilogram, expanding by VND596, VND576 and VND651.
During this fuel price adjustment, the national fuel price stabilization fund was tapped to curb the rise of fuel product prices. The ministries decided not to extract money for each liter of bio-fuel E5 RON92, kerosene and each kilogram of heavy fuel oil sold to replenish the fund.
Meanwhile, the extraction rate for each liter of RON95 petrol and diesel oil is VND100.
Besides this, local fuel traders were allowed to tap the stabilization fund at VND1,000 for each liter of E5 bio-fuel sold, VND200 for each liter of RON95 gasoline sold, VND200 for each kilogram of heavy fuel oil sold, and VND300 for each liter of diesel oil and kerosene.