Pump prices up third time in 2010

TN News

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Fuel traders raised retail prices by between VND410-450 per liter Monday, the first increase since late February and the third this year.

 

The  A92 gasoline now costs VND16,400 a liter, while the price of A95 has gone up to VND16,900 per liter.

 

Vuong Thai Dung, vice director general of Petrolimex, the country's largest fuel trader, said they'd adjusted pump prices by VND410 per liter, while Saigon Petro raised theirs by VND450.

 

Saigon Petro Director General Dang Vinh Sang said over the past six months, their retail prices had always been lower than Petrolimex's by VND400 per liter, and the latest adjustment brings them on par.

 

Price increases in other products by both traders were at the same level.

 

Diesel is now sold at VND14,750 per liter, up VND400; while kerosene has gone up by the same amount to reach VND15,100 per liter.

 

Since December 15 last year, the government has allowed fuel traders to raise pump prices without seeking government consent if world prices rise by 7 percent or more.

 

Under this policy, businesses have raised prices twice in January and February, and lowered them once in May.

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