Business

Petrol prices increase by nearly VND1,000 per liter

SGGP
The ministries of Industry and Trade and Finance decided to raise the prices of petrol in Vietnam by nearly VND1,000 per liter as of 3 p.m. on June 12.

Petrol prices increase by nearly VND1,000 per liter as of 3 p.m. on June 12. (Photo: SGGP)

Petrol prices increase by nearly VND1,000 per liter as of 3 p.m. on June 12. (Photo: SGGP)

Accordingly, the price of E5 RON92 gasoline increased by VND988 per liter to VND13,390 per liter. The price of RON95-III gasoline surged VND955 per liter to VND14,080 per liter. Diesel oil 0.05S went up VND766 per liter to VND11,515 per liter. Kerosene emerged VND853 per liter to VND9,610 per liter. Mazut oil 180CST soared VND830 per kilogram to VND10,322 per kilogram.

According to the ministries, currently, the domestic economy is on the recovery of production and business activities after the isolation period because of the Covid-19 pandemic, the demand for fuel continues to increase.

In this adjustment, the ministries decided to adjust the prices of petroleum products following the solution that ensures that the domestic gasoline prices tend to move with the trend of the global ones but minimizes negative impacts on the lives of people. The production and business activities of enterprises are recovering gradually but there are still many difficulties.

The fuel price stabilization fund is used to lessen the increased level for petroleum products but it is still maintained at a reasonable level to have rooms for the next price adjustments amid the context that the global fuel prices are developing complicatedly and tending to increase.

The management of petrol prices also contributes to ensuring the goal of controlling inflation in 2020 assigned by the National Assembly, continuing to maintain the price difference between biofuel E5 RON92 and mineral petrol RON95 at a reasonable level to encourage the use of biofuel to protect the environment following the Government's policy.

By Van Phuc – Translated by Gia Bao

Other news