09:50 | 09/04/2018 Economy- Society
The retail price of E5 RON92 petrol increased by VND592 per litre, while the prices of diesel 0.05S and kerosene were adjusted up by VND638 and VND521 per litre, respectively, starting from 3pm on April 7.
The Ministries of Industry and Trade, and Finance decided to spend the petroleum price stabilization fund for E5 bio-fuel at VND790 per liter (previously VND669 per liter), while a fund subsidy of VND200 per liter will be applied for both diesel (previously VND177 per liter) and kerosene (previously VND34 per liter).
They stated that, after the adjustments, the price of E5 RON92 petrol should not be higher than VND18,932 per liter, and those of diesel 0.05S and kerosene should not be higher than VND16,354 per liter and VND15,081 per liter, respectively.
The two ministries conduct a review of the fuel prices every 15 days in order to adjust the prices in accordance with fluctuations on the world market.
The average global price of petrol products during the last 15 days up to April 7 was at US$76.963 per barrel for RON 92 (used to produce E5 biofuel), up more than US$3.7 per barrel against the previous adjustment, and US$81.174 per barrel for diesel 0.05S, up over US$4.1 compared to the previous adjustment.