First price rise in June and second within a month announced.
Petrolimex increased the price of RON 92 petrol by VND280 per liter at 3pm on June 19, taking it to VND20,710 ($0.96), its highest point since standing at VND21,000 ($0.93) in late November last year. Crude oil prices, meanwhile, continue to fall.
The Ministry of Finance and the Ministry of Industry and Trade previously decided to allow enterprises to adjust the retail price of RON 92 to no higher than VND20,711 ($0.96), while E5 bio-gas was not to exceed VND20,381 ($0.94) per liter.
This is the first price hike in June and the second within a month.
Since the beginning of the year petrol prices have been adjusted five times; twice downwards and three times upwards. In May the price rose twice.
The second increase on May 20 saw RON 92, RON 95 and E5 RON 92 all increase by VND1,200 ($0.05). RON 92 then stood at VND20,430 ($0.96) per liter, RON 95 VND21,030 ($0.99), and E5 RON 92 VND20,100 ($0.94).