Vietnam gasoline prices hiked for fourth time since July 21
Retail gasoline prices in Vietnam were raised by VND510-610 ($0.03) per liter on Monday, the fourth hike since July 21.
RON 95-III gasoline rose to VND24,600 ($1.03) per liter, while E5 RON 92 hit VND23,330 ($0.98).
The price of diesel decreased by VND70 to VND22,350 ($0.94) a liter, and that of kerosene went up VND420 to VND22,300 ($0.94) per liter. Mazut oil climbed up VND320 to VND17,980 ($0.75) per kilogram.
A motorcyclist refills at a 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 maintain the level of deductions from different types of gasoline and oil for the national gasoline price stabilization fund.
Vietnam's consumer price index (CPI) in July rose 0.45% from June, according to the General Statistics Office. The major reason cited was rising food and electricity prices due to prolonged hot weather conditions and state utility Vietnam Electricity (EVN) adjusting the average retail price of electricity. On average, the CPI increased by 3.12% year-on-year in the first seven months.
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