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Vietnam’s gasoline prices up by 6 percent in third consecutive hike

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Vietnamese fuel traders on Saturday increased gasoline prices again after two weeks, as global fuel prices rose by nearly 6 percent during the period.

The retail price of 92-RON went up 4.3 percent to VND16,509 (74 US cents) a liter since June 4. Photo: Thanh Nien

 

The retail price of 92-RON, the country’s most popular gasoline grade, went up 4.3 percent to VND16,509 (74 US cents) a liter, while its bio alternative E5 rose to VND15,938 a liter.

Diesel price increased 5.3 percent to VND11,908 a liter and kerosene rose to VND10,297 a liter.

Gas prices in Vietnam have increased for three consecutive times since May 5.

According to the Ministry of Industry and Trade, the 92-RON has increased by 5.9 percent, or by US$3.7 per barrel in the past two weeks.

In Singapore, Vietnam’s major import source, gas price is being sold for around $58 per barrel, a $6 increase over early this year.

In Vietnam, fuel price hikes have to be at least 15 days apart, according to a rule that was introduced in 2014.

 

Source: Thanh Nien News

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