The ministries of Industry and Trade, and Finance have ordered a sharp raise in retail petrol prices from Thursday afternoon.
People wait to buy petrol in Hanoi. Illustrative photo.
Following the latest adjustment, the price of E5RON92 biofuel increased by VND609 to VND14,494 (0.63 USD) per litre and RON95 by VND650 to VND15,351 (USD0.67) per litre.
Oil prices have also been raised by about VND600 per litre.
Diesel and kerosene are now being sold at no more than VND11,434 and VND10,138 per litre, respectively, while Mazut is being sold at VND11,742 per kilo.
The price hike is said to have resulted from the rising prices of petrol and oil in the global market over the past 15 days.
Before this adjustment, domestic retail petrol prices saw two continuous falls with the latest announced on November 11 when prices of RON 95 fell by VND 238 per litre, and E5 RON 92 by VND224 per litre.
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