Petrol price rises 900 dong a liter, to VND23,800
The retail price of petrol hikes up again in Vietnam when A92 fuel is sold at VND23,800 a liter as of 20:00 yesterday -- up 900 dong a liter, according to a decision approved by the Ministry of Finance.
Diesel is also priced up 500 dong a liter, to VND21,900 while kerosene in increased 600 dong a liter to VND21,400.
Days ago, four key petroleum wholesalers were seeking approval from the ministry to increase retail prices, citing that the retail fuel prices should be increased since the base price was higher than the retail price, forcing them to take losses.
The four firms submitted requesting documents to the ministry, including Vietnam National Petroleum Group (Petrolimex), PetroVietnam Oil Corp (PV Oil), Saigon Petro, and Dong Thap Petroleum Trading Import Export Co (Petimex). Among them, Petrolimex accounts for 55 percent of the local market share.
This is the second time this year the fuel price is increased. The first one was on March 7 when the price of A92 was hiked up 2,100 dong a liter, to VND22,900.
In several pump stations, people flocked to buy fuel before its price was adjusted.
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| People flock to buy fuel at a pump station before the new petrol price takes effect by increasing 900 dong a liter |
Days ago, four key petroleum wholesalers were seeking approval from the ministry to increase retail prices, citing that the retail fuel prices should be increased since the base price was higher than the retail price, forcing them to take losses.
The four firms submitted requesting documents to the ministry, including Vietnam National Petroleum Group (Petrolimex), PetroVietnam Oil Corp (PV Oil), Saigon Petro, and Dong Thap Petroleum Trading Import Export Co (Petimex). Among them, Petrolimex accounts for 55 percent of the local market share.
This is the second time this year the fuel price is increased. The first one was on March 7 when the price of A92 was hiked up 2,100 dong a liter, to VND22,900.
In several pump stations, people flocked to buy fuel before its price was adjusted.
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