VINACHEM

The retail prices of petrol and oil continued to witness an increase at 3 p.m. on January 11 following the latest price review jointly conducted by the Ministry of Industry and Trade and the Ministry of Finance.

Most notably, the price of E5 RON92 biofuel recorded an increase of VND609 to reach a maximum price of VND23,159 per litre, whilst RON95 rose by VND581 to be sold at no more than VND23,876 per litre.

Elsewhere, Diesel 0.05S and kerosene were sold at no more than VND18,239 and VND17,138 per litre, marking rises of VND660 and VND620 per litre, respectively.

Furthermore, the price of Mazut 180CST 3.5S inched up by VND617 to reach VND16,362 per kilogram.

Under the new rules adopted in November 2021, petrol prices are to be regulated on the first, 11th, and 21st days of each month, putting prices into a 10-day cycle on a par with global market fluctuations which may occur.

The world petroleum market as of December 25 has been heavily influenced by several key factors, including a decrease in US oil inventories and an overall reduction in oil production in Kazakhstan and Libya, both of which have fueled petrol prices in the global market.  - VOV -