Vietnam gasoline prices hiked for second time since July 21
Retail gasoline prices in Vietnam were raised by VND1,160-1,170 ($0.05) per liter on Tuesay, the second hike since July 21.
RON 95-III gasoline rose to VND23,960 ($1.01) per liter, while E5 RON 92 hit VND22,790 ($0.96).
The price of diesel increased by VND1,110 to VND20,610 ($0.87) a liter, and that of kerosene went up VND1,090 to VND20,270 ($0.86) per liter. Mazut oil went up VND810 to VND16,530 ($0.69) per kilogram.
A gasoline station in Hanoi. Photo courtesy of VietNamNet newspaper.
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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