Starting Friday, the popular 92-octane petrol will retail at VND16,300 per liter, up from the previous VND15,500. Diesel prices go up by VND1,000 to VND14,300 per liter and kerosene up 7 percent to VND14,200.
Fuel prices have changed nine times this year, with only one price cut. The last price adjustment was an increase of VND300-500 per liter on October 24.
At least three fuel traders requested the government for an increase of VND1,000 per liter early this week following price hikes in the global market, according to local newswire VnExpress.
World oil prices rose above US$80 on Wednesday and slipped to $79 Thursday.
The Vietnamese government has allowed the price hike but maintained import tax rates on fuel products and continued collecting contributions from gasoline traders for a price stabilization fund.
From December 15, local fuel product distributors will be allowed to raise pump prices automatically without seeking government consent if world prices rise by 7 percent or more.
Reported by Hoang Ly |
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