Ministries of Finance and Trade & Industry approved to increase petrol prices. The decision will take effect from 0:00 on November 20; petrol prices will go up by VND500-1000 per litter (USD0,02-0,05).  

A92 petrol price will increase from VND15,500 (USD 0,86) to 16,300 (USD 0,9) per litter, diesel and burning oil prices rise in rocket at VND1,000 per litter or VND14,300, 15,200 (USD0,79; 0,84) per litter respectively.

Fuel oil price will go up by VND500 per kilogram to VND12,700 (USD0,7) per kilogram.

The prices go up because Military Petroleum, Petro Vietnam Oil and Saigon Petro Corporations requested the two Ministries to increase petrol retail prices.

They said that the petrol sector hadn’t made profit for the past 20 days. Diesel and burning oil had lost VND1,000 per litter.

On October 24, due to high increase in world’s petrol prices, domestic petrol prices went up slightly at VND300 per litter, diesel and burning oil prices went up at VND500 and VND700, respectively.

As of November 13, processed A92 petrol, diesel 0,25S, diesel 0,5S, burning oil and fuel oil were bought at USD78,96; USD83,18; USD83,33; USD83,74; USD466,86 per barrel respectively. Each barrel went up by USD 5 against the average of the previous 20 days.