Gasoline prices have increased by nearly 1,000 VND/liter.
From 3 PM today (June 12th), gasoline prices will increase by 960 - 990 VND per liter, while other petroleum products will also increase by 775 - 860 VND per liter/kilogram.
According to an announcement from the Ministry of Industry and Trade and the Ministry of Finance, the retail price of E5 RON92 gasoline has increased by 990 VND per liter, reaching a maximum of 13,390 VND. RON 95 gasoline has increased by 960 VND, reaching 14,080 VND per liter.
Meanwhile, the prices of petroleum products also increased by 775-860 VND per liter or kilogram. After the price increase, the maximum price per liter of diesel is 11,515 VND; kerosene is 9,610 VND; and fuel oil is no more than 10,322 VND per kilogram.
This marks the third consecutive increase in retail gasoline and diesel prices since April, following eight previous price reductions due to Covid-19.
Along with the price increase, the authorities continue to draw from and release funds from the Fuel Price Stabilization Fund. Accordingly, 100 VND is deducted from each liter of E5RON92 gasoline, 200 VND from RON 95 gasoline, and 100-800 VND per liter or kilogram for other oil products, depending on the type.
The inter-ministerial committee also allocated 800 VND from the price stabilization fund for each liter of E5 RON92 gasoline, 500 VND for RON 95 gasoline, and 200 VND for fuel oil.