Petroleum prices keep increasing

The retail prices of E5 RON 92 and E5 RON 95 petrol rose by VND440-490 per litre to VND23,590 and VND24,360 per litre respectively.

Meanwhile, the price of diesel and kerosene increased by VND670 and VND660 per litre respectively to VND18,900 and VND17,790.

Mazut oil saw a rise of VND630 per kilo to VND16,990.

On January 10, prices of petroleum products were also increased.

The Ministry of Industry and Trade and Ministry of Finance have decided to adjust petrol prices every ten, instead of 15 days, to help keep domestic petrol prices more aligned with global fluctuations from January.

Under the new rules, petrol prices will be regulated on the 1st, 11th and 21st day of each month, putting prices onto a ten-day cycle. Industry insiders agree that this shorter period is necessary to keep up with world fluctuations.