Retail prices of oil and petrol increased starting from 3pm on October 11, following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.
Accordingly, the ceiling retail price of E5 RON92 rose by 560 VND (0.02 USD) to 21,290 VND per litre, and that of RON95 bio-fuel went up 560 VND to 22,000 per litre.
 |
Illustrative image. |
The prices of oils were also revised up, with that of diesel oil up by 1,960 VND to 24,160 VND per litre, and that of kerosene up by 1,140 VND to 22,820 VND per litre. Mazut oil’s price was kept unchanged, at 14,909 VND per kg.
The two ministries also determined to extract 200-400 VND per litre from petrol price for the petrol price stabilisation fund.
Reducing special consumption tax on gasoline to zero and cutting value-added tax by half will provide positive impacts amid global uncertainties, the Vietnam Chamber of Commerce and Industry (VCCI) proposed.
At least 34 people were hospitalized after a gas pipe at a factory of South Korea's electronic component producer Seojin Automotive Co. Ltd in northern Vietnam exploded.
Vietnam gasoline prices on Thursday dropped 3.6-3.8% to the lowest since Feb. 11 as global rates kept falling.
Vietnam halved its Most Favored Nation (MFN) tariff on gasoline to 10% Monday as it seeks to diversify supply.
Source: VNA
