11:05 | 24/05/2018 Economy- Society
The prices of petrol and oil increased as from 15:00 of May 23 following a joint decision of the Ministry of Finance and Ministry of Industry and Trade.
Specifically, the price of E5 RON92 petrol rose by 500 VND per liter, while that of RON95-III petrol increased by 600 VND per liter, diesel expanded by 587 VND per liter and kerosene up by 523 VND per liter.
After the adjustment, the prices of E5 bio-fuel are not higher than 19,940 VND per liter, and those of RON95-III petrol, diesel 0.05S and kerosene should not be higher than 21,511 VND per liter, 17,694 VND per liter and 16,440 VND per liter, respectively.
The ministries of Industry and Trade and Finance review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market.
According to the ministries, the world petrol prices have recently surged due to the unstable political situation in the Middle East and a decline in oil supply from Venezuela.