Petrol and oil prices shoot up

The retail prices of petrol and oil increased from VND2,000 to VND 2,800 per litre as from 10 pm on March 29.

The Ministry of Finance’s decision allows increase in petrol prices from VND19,300 to VND21,300 per litre, diesel prices from VND18,300 to VND21,100 per litre, kerosene prices from VND 18,200 to VND20,800, mazut from VND14,800 to VND 16,800 per litre.

It says that after the price adjustment, the ministry will continue to run petrol and oil business under the market mechanism. If world prices go up, domestic prices will be readjusted. If they go down, import tariffs will be adjusted at a reasonable level and selling prices will be reduced if necessary.

Tags: Vietnam petrol, Vietnam Petrol prices

Posted by VBN on Mar 30 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry