VINACHEM

Local fuel traders on April 5 adjusted up the retail price of A92 gasoline by VND520 to VND14,940 a liter and biofuel E5 by VND550 to VND14,440 a liter.

However, they kept prices of oil products unchanged, according to a joint decision issued by the ministries of finance and industry-trade.

According to the decision, prices of fuel imports in the 15-day period ending on April 4 changed. As a result, the base price of A92 gasoline rose to VND15,740 a liter, and biofuel E5 to VND15,272 a liter, diesel to VND10,890 a liter, kerosene to VND9,792 a liter, and heavy fuel oil to VND7,496 a kilogram. These prices were higher than the retail levels.

Therefore, the ministries allowed domestic fuel trading firms to use the fuel price stabilization fund to minimize the impact of fuel price increases on the country’s economy, help stabilize input costs for businesses and support consumers

Fuel trading firms are permitted to get VND800 from the fund for every liter of A92 gasoline sold, down VND247 a liter from the previous adjustment; VND830 a liter for biofuel E5 and VND887 a liter for kerosene.

However, they can get VND1,017 from the fund for every liter of diesel sold compared to VND909 in the previous adjustment and VND271 a kilogram for heavy fuel oil from VND231.

This was the second price hike of A92 gasoline since March 21, when it rose by VND670 a liter.