Petrol prices jump VND 1,200 per liter

Domestic businesses have increased retailed petrol prices by VND1,200 per liter from last night as per instruction by the Ministry of Industry and Trade and the Ministry of Finance.

Gasoline prices were raised by 1,200 VND (six cents) per litre in the wake of increasing global fuel prices (Photo: vietq)

A liter of Ron 92 now costs VND 20,436 while ethanol gasoline is priced VND 20,106.

Diesel and mazut prices went up VND 500 to VND 16,383 a liter and VND 13,153 a kilogram. Kerosene price reaches VND15,751 after sliding VND 64 a liter.

The two ministries have also cut import tariff rates from 12 percent to 10 percent on diesel, from 20 percent to 13 percent for kerosene and from 13 percent to 10 percent for mazut.

Businesses are ordered to keep contribution level to the price subsidization fund unchanged. The fund’s use level is VND1,054 a liter of traditional gasoline, VND889 a liter of ethanol gasoline, VND328 a liter of diesel and VND324 a kilogram of mazut.

According to the ministries, the petrol price in Vietnam is higher than that in surrounding nations. A liter is priced about VND 22,344 in Cambodia, VND 22,988 in Laos and VND 20,269 in China.

The price increase was to prevent smuggling, the ministries said.

By Ngoc Quang – Translated by Hai Mien

Other news

Most view

At the forum (Photo: SGGP)

Ben Tre Province facilitates agriculture investors

A forum held in the Mekong Delta province of Ben Tre yesterday had met to promote investment in agriculture with the participation of the provincial Party Secretary Vo Thanh Hao, Chairman of People’s Committee Cao Van Trong and 250 enterprises.

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

STK to issue 10.8million shares

The shareholders of Century Synthetic Fiber Corp (code: STK) have approved plan to issue 10.8 million shares.