Vietnam continues to raise pump prices

By Bui Hong Nhung   September 5, 2016 | 01:56 am PT
Petrolimex  pushes up retail prices of oil products by nearly five percent.

Petrolimex Corporation, Vietnam’s top oil importer and distributor, pushed up retail prices of oil products by nearly five percent on Monday afternoon.

The new price for gasoline is VND16,770 ($0.7) per liter for RON 95, up 4.4 percent; VND16,070 for RON 92, up 4.6 percent; and VND15,830 for E5 RON 95, up four percent.

The price for 0.05 percent sulfur diesel followed the same trend with a hike of nearly four percent to VND12,380 per liter.

Kerosene also went up by 4.7 percent to stand at VND10,980 per liter.

On August 19, prices for oil products also rose from 1.9 percent to over 6.8 percent.

Vietnam’s oil product prices are adjusted every 15 days by the Ministry of Industry and Trade.After being adjusted 10 times this year, six up and four down, current oil prices are still lower than their peak in May 6 by some 400 VND per liter.

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