VINACHEM

The Ministry of Finance (MoF) increased the retail prices of petrol, kerosene and diesel from 12am yesterday.

The increase was between VND130 and VND210, or between 6 and 10 cents, per litre.

The ministry also permitted distributors to decrease the mazut price because its base price is now VND61 ( 2.9 cents) lower than its selling price.

Petrolimex, the country's largest fuel wholesaler, has raised the price of the popular gasoline RON92 by VND210 per litre to VND24,900, or $1.18, per litre.

Its diesel price has been raised by VND170, or 8 cents, per litre to VND22,680, or $1.08, per litre.

Its kerosene price would be increased by VND130 per litre to VND22,480, or $1.07, per litre.

The corporation also decreased its mazut price by VND70 per litre to VND18,590, or $0.88, per litre.

According to MoF, the average price of RON 92 between March 23 and April 21 was over $160 per barrel. Its statistics show that the base price is now VND214, or 10 cents, per litre higher than the selling price. The difference between the base price and the selling price of kerosene and diesel fluctuates from VND130 to VND170 per litre.

This is the third time that MoF has increased the petrol price since the beginning of this year.