Market and product
Fuel price stabilization fund tapped but retail prices still up
Fuel retail prices increased by VND600 per liter and diesel oil rose by VND470 last Friday although the Ministries of Industry-Trade and Finance allowed trading firms to tap the fuel price stabilization fund.
The two ministries issued a joint decision permitting a domestic fuel price hike. A92 gasoline inched up to VND17,020 per liter while E5-A92 edged up by VND570 to VND16,810 per liter.
Diesel oil leapt to VND13,790 and kerosene grew by VND460 to VND12,390 per liter. Fuel import prices in the 15-day period from July 20 had risen compared to the 15 previous days.
The two ministries also allowed wholesalers to use the fuel price stabilization fund to prevent a bigger retail price spike. For A92 petrol and kerosene, they can get VND110 a liter, E5-A92 VND90 and diesel oil VND70.
On July 20, fuel prices rose by VND270-370 a liter due to an increase in global fuel prices. - Source: SGGP -
