HCMC – Prices of gasoline products in the local market rose by some VND1,000 per liter at 3 p.m. on June 12, according to an announcement jointly issued by the ministries of Industry and Trade and Finance.
Bio-fuel E5RON92 soared VND988 per liter to VND13,390, while RON95 petrol is now traded at VND14,080, up VND955.
The retail prices of oil products including diesel oil, kerosene and heavy fuel oil also inched up by VND760-VND850 per liter or kilogram to VND11,515, VND9,610 and VND10,322, respectively.
Local fuel traders are told to charge buyers VND100 for each liter of bio-fuel E5RON92 sold to replenish the fuel price stabilization fund. The surcharge for each liter or kilogram of RON95 petrol, kerosene, diesel oil and heavy fuel oil sold is VND200, VND800, VND400 and VND100, respectively.
Meanwhile, fuel trading firms were allowed to tap VND800 from the fund for each liter of bio-fuel E5RON92 sold. They can also get VND500 for each liter of RON95 gasoline and VND200 for heavy fuel oil sold from the fund.
The ministries noted that the local economy is recovering from the impact of the coronavirus pandemic and the demand for fuel is on the rise.
Following the global upward trend, the ministries decided to revise up local fuel prices but still ensure the price adjustment does not leave a negative impact on local businesses and the lives of local residents.