Petrol price hiked for third time in 2014

Petrol price hiked for third time in 2014

Nhan Dan Online - The price of RON 92 petrol, the most popular type of fuel for motorbikes in Vietnam, has increased by VND210 to VND24,900.

Petrolimex, Vietnam’s largest distributor of oil products, said the price hike went into effect at 12pm on April 22 after receiving approval from the Ministry of Finance and Ministry of Industry and Trade.

Regulators said retail prices before the latest increase were lower than prices on the world market, which averaged out at US$116 per barrel of RON 92 petrol.

Petrolimex said the prices of diesel and kerosene also rose by VND170 and VND130 per litre respectively, while a kilogram of mazut dropped by VND70 to VND18,590.

This is the third petrol price increase since the start of 2014. The most recent came in March 19 when the cost of a litre of RON 92 petrol was raised by VND180.

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