Vietnam Further Hikes Retail Petrol Prices By 5 per cent or VND700/Liter

The Vietnamese Ministries of Finance, and Industries and Trade have decided to raise the petroleum retail prices by between VND500/liter and VND700/liter or 5 per cent effective from today, July 1 in accordance with the increasing petrol prices in the world market, state media said on July 1.

 

The price of gasoline A92 is increased by VND700/liter 5.18 per cent to VND14,200/liter and gasoline A95 by VND700/liter or 5 per cent to VND14,700/liter.

 

Meanwhile, the price of kerosene is hiked by VND650/liter or 5 per cent to VND13,650/liter, mazut 3 S and mazut 3.5 S by VND500/liter or 5 per cent to VND10,500/liter, and diesel by VND600/liter or 5.21 per cent to VND12,100/liter.

 

This is the second petrol price hike in the Vietnamese market within 20 days, and the fifth price soar so far this year. The latest price increase happened on June 10.

 

Traders said that the imported prices of gasoline A92, diesel and marzut have increased for a month to hit US$74.98/barrel, US$76.79, and US$400.69/ton in the Singaporean market, respectively.

 

With such a high price, petrol traders in Vietnam are losing nearly VND900 per liter of A92 gasoline, between VND1,500 and VND2,000 per liter of oil, they said. (VoVNews, VietNamNet)