Gasoline price rises 1.5 pct

By Anh Minh June 21, 2022 | 12:32 am PT

A staff receives cash from a customer at a gasoline station in Hanoi in March 2022. Photo by VnExpress/Ngoc Thanh

Vietnam’s RON 95 gasoline price increased by 1.54 percent Tuesday to a new record of VND32,870 ($1.42) per liter, having risen by 41 percent so far this year.

This was the seventh increase in a row since mid-April of the popular gasoline, which accounts for 70 percent of total fuel consumption in the country.

RON 92 biofuel also saw its price rising by 0.61 percent to VND32,370 per liter, having increased by 43.5 percent this year.

Diesel increased by 3.4 percent Tuesday.

Vietnam’s fuel stabilization fund, set up to contain price surges, is currently negative.

The government has cut the environmental tax on fuel by half to VND2,000 from April for the rest of the year, and is considering cutting it by another VND1,000.