Vietnam gasoline prices hiked for fourth time since July 21

By Trang Nguyen

Mon, August 21, 2023 | 3:20 pm GMT+7

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.

Tags:

Vietnam

gasoline

price

hike

oil

Comments (0)

Latest|Most liked

Tags:

While the buzz around a market upgrade is back, who is this milestone for?

A key issue for the Vietnamese stock market is the underdevelopment of the institutional investor base. The dominance of retail investors can create heightened volatility, which, in turn, reduces the incentive for high-quality companies to list on the stock exchange, writes Gary Harron, head of securities services at HSBC Vietnam.

Consulting - Fri, March 28, 2025 | 10:31 am GMT+7

Vietnam's private lender VIB seeks strategic shareholders: chairman

Vietnam International Bank's (VIB) board of directors is now in discussions with banks and investment funds to find suitable partners for the lender, ensuring a mutually beneficial partnership that goes beyond finance.

Banking - Fri, March 28, 2025 | 8:31 am GMT+7

Vietnam tech giant FPT opens semiconductor R&D center in central Vietnam

Vietnam’s leading tech group FPT on Thursday inaugurated its high-tech and semiconductor R&D center at the Danang Software Park No. 2 in the central city of Danang.

Industries - Fri, March 28, 2025 | 8:00 am GMT+7

HCMC's international financial center development to be phased out: city leader

Ho Chi Minh City aims to become an international financial center, with related development plan divided into three phases, said Vo Van Hoan, its Vice Chairman.

Economy - Thu, March 27, 2025 | 11:11 pm GMT+7

Car producers in Thailand postpone export models

Car manufacturers in Thailand have decided to delay making some models for export due to U.S. President Donald Trump's new tariff policy.

Southeast Asia - Thu, March 27, 2025 | 10:17 pm GMT+7

Indonesia approves $7 bln budget for food security in 2025

Indonesia’s Ministry of Finance on Wednesday announced that the government has approved a budget of IRD118 trillion ($7.1 billion) for food security programs in 2025.

Southeast Asia - Thu, March 27, 2025 | 10:14 pm GMT+7

Honda Vietnam rolls out first domestically produced electric scooter

Honda Vietnam has officially launched its first domestically produced electric scooter, the ICON e:, marking a significant step in the company’s electrification and sustainable mobility strategy in Vietnam.

Southeast Asia - Thu, March 27, 2025 | 10:09 pm GMT+7

Vietnam's Quang Ngai seaport system requires over $420 mln investment by 2030

The seaport system in the central Vietnam province of Quang Ngai will need about VND10.83 trillion ($423.54 million) in investment by 2030, according to the detailed 2021-2030 development plan for local seaport land and water areas, with a vision to 2050.

Southeast Asia - Thu, March 27, 2025 | 10:06 pm GMT+7