HCMC – The retail prices of gasoline and oil products in the local market increased sharply by nearly VND1,000 per liter or kilogram from 3 p.m. today, October 11, according to an announcement jointly issued by the ministries of Industry and Trade and Finance.
The price of bio-fuel E5 RON92 surged VND967 per liter to over VND21,500, while RON95 petrol is now priced at nearly VND23,000 per liter, rising VND934.
Similarly, the retail prices of diesel oil and kerosene rose nearly VND1,000 per liter to over VND17,500 and VND16,600, respectively. Heavy fuel oil edged up more than VND500 per kilogram to around VND17,000.
During this fuel price adjustment, the ministries decided not to impose a surcharge on bio-fuel E5 RON92, RON95 petrol, diesel oil and kerosene to replenish the national fuel price stabilization fund. Meanwhile, the surcharge on each kilogram of heavy fuel oil sold to customers was VND100.
Local fuel traders were allowed to tap the fund at VND950 for each liter of bio-fuel sold to customers, VND150 for each liter of diesel oil and VND100 for each liter of kerosene to keep the prices from surging too high.