Fuel price edge up around VND400

Domestic petrol and oil retail prices rose by VND410 and VND400 per litre on August 9, respectively, announced the Vietnam National Petroleum Corporation (Petrolimex), the largest fuel retailer in the country.

A95 and A92 petrol are now VND16,900 and VND16,400 a litre, while kerosene and diesel have risen to UVN15,100 and VND14,700 a litre.

Meanwhile, the wholesale price of fuel oil dropped by VND310 to somewhere between VND12,690 and VND12,990 a litre.

Bui Bao Ngoc, Chairman of the Petrolimex, said fuel hikes are in tandem with global price rises.

The global crude oil price soared sharply on August 9 to US$81.77 per barrel, which was blamed on the Federal Open Market Committee’s hinting at possible measures to lift the US economy after meeting the Federal Reserve.

Earlier, the Ministry of Finance had asked retailers not to adjust fuel prices more than twice a month. It had also asked to be notified of price changes in an effort to control supply and demand. – VOV

Tags: Vietnam fuel prices, Vietnam petrol, Vietnam Petrol prices