Gasoline prices increased from 3 PM on July 20th.

Gasoline prices increased by 357 dong per liter, reaching a maximum of 16,426 dong from 3 PM on July 20th.

The Ministry of Industry and Trade and the Ministry of Finance have just announced adjustments to domestic retail gasoline and diesel prices. Accordingly, the price of RON 92 gasoline has increased by 357 VND per liter, and E5 bio-gasoline by 333 VND per liter. Prices for other types of diesel have also increased by 57-372 VND per liter/kilogram.

Following the price increase, the price of RON 92 gasoline will not exceed 16,426 VND per liter; E5 gasoline will reach 16,256 VND per liter; and diesel fuel will be 13,329 VND per liter...

"Car price competition: Buy or wait?"

Gasoline prices increased by more than 350 dong per liter starting this afternoon. Photo: Ngoc Thanh

Despite the simultaneous increase in gasoline and diesel prices, the authorities have maintained the same level of contributions to the Gasoline and Diesel Price Stabilization Fund. Since April 2017, the authorities have not utilized this price stabilization tool.

The increase in domestic gasoline and diesel prices is explained by the fact that over the past 15 days, the average price of refined gasoline on the Singapore market was $57.856 per barrel, and diesel was $59.918 per barrel... This represents an increase of nearly $2 per barrel compared to the previous adjustment (July 5th).

Domestic retail gasoline and diesel prices have undergone four adjustments since the beginning of the year, with seven price increases and seven price decreases.

According to VNE