Gasoline prices up, oil down
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Gasoline prices unexpectedly rose Monday by VND540-620 (US$2.3-2.6 cents) per liter, while oil products dropped by VND300-980 per liter.
This is the fifth time retail fuel prices have been adjusted in only six weeks this year.
The price of the Vietnam’s number one selling gasoline RON 95-III went up by VND620 to VND23,760 per liter, and the cost of E5 RON 92 increased by VND540 to VND22,860.
Meanwhile, the diesel price fell by VND960 to VND21,560, kerosene dropped by VND980 to VND21,590 dong per liter, and mazut oil decreased VND300 to VND13,630.
The price hikes announced by the Ministry of Industry and Trade and the Ministry of Finance surprised businesses because it went against the previous forecast.
However, the two ministries said their fuel price management plan would help curb inflation and stabilize the market.
Questions & Answers
Q.Which specific gasoline products saw price increases this week?
Which specific gasoline products saw price increases this week?
The price of RON 95-III gasoline increased by VND620 per litre, reaching VND23,760. E5 RON 92 also saw a rise of VND540, bringing its cost to VND22,860 per litre.
Q.What reason did the ministries give for the unexpected fuel price adjustments?
What reason did the ministries give for the unexpected fuel price adjustments?
The Ministry of Industry and Trade and the Ministry of Finance stated their fuel price management plan is intended to help curb inflation and stabilise the market, despite surprising businesses.
Q.How many times have retail fuel prices been adjusted so far this year?
How many times have retail fuel prices been adjusted so far this year?
Retail fuel prices have been adjusted five times in six weeks this year. This latest change includes increases for gasoline and decreases for other oil products.
Q.Which oil products saw a price decrease this week?
Which oil products saw a price decrease this week?
Diesel prices fell by VND960 to VND21,560 per litre. Kerosene dropped by VND980 to VND21,590, and mazut oil decreased by VND300 to VND13,630 per litre.
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