Vietnam gasoline price hiked after 2 consecutive drops
Retail gasoline prices in Vietnam increased by VND380-490 ($0.02) a liter on Monday, the first hike after two consecutive drops since mid-February.
RON 95-III gasoline went up to VND23,810 ($1.01) per liter, while E5 RON 92 hit VND22,800 ($0.97).
Diesel climbed by VND250 to VND20,500 ($0.87), and Kerosene rose by VND240 to VND20,710 ($0.88) a liter.
A Petrolimex gasoline station in Hanoi. Photo by The Investor/Trong Hieu.
For this price adjustment, the Ministry of Industry and Trade and the Ministry of Finance decided to extract VND50-100 per liter from different types of oil for the petrol price stabilization fund.
The consumer price index (CPI) in February rose 4.31% year-on-year. The reasons, according to the General Statistics Office, are domestic gas and petroleum prices having increased in line with world fuel prices, and the cost of housing rising due to increasing demand after the Lunar New Year holiday.
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