Petrol price sees steepest hike in a year

It is a second increase in petrol price within 15 days. (Photo: Sggp)

The prices of E5 RON 92 and RON 95 increased by VND 675 and VND 577 per liter respectively as from 3:00 pm on October 6, according to requirements by Inter -Ministries of Finance and Industry and Trade.

Accordingly, retail prices of E5 RON 92 and RON 95 are sold at no more than VND 20,906 and VND 22,347 per liter.

Meanwhile the prices of diesel and kerosene increased VND 485 and VND 403 per liter. Their current ceiling prices are VND 18,611 and VND 17,086 per liter. The price of mazut is VND 15,964 per kg, an increase of VND 752.

The two ministries explained that the cost of refined petroleum products was increased 15 days ago. In Singapore, crude oil price was US$92.5 per barrel versus US$86.823 the previous price.

The two ministries also decided to keep the use of the price stabilization fund for petroleum. Usage of the fund for E5 RON 92 increased VND 1,563 per liter; RON 95 was VND 700; while diesel and kerosene were VND 400 and VND 300 per liter.

The price of petrol has increased for the third time from the beginning of September until now. The total increases in E5 RON 92 and RON 95 are VND 1,296 and VND 1,170 per liter respectively./.

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