Petrol price up by 500 VND per litre

Hanoi (VNA/VNS) - Some large petrol distributors increased their retail prices by 500 VND, to 11,500 VND - 12,000 VND per litre of unleaded petrol on April 2, after receiving permission from the Ministry of Finance.

They included the Military Petroleum Company (MIPECO), the Vietnam National
Petroleum Corporation (Petrolimex), the Mekong Oil and Gas Joint Stock Company and
the Saigon Petroleum Company.

This was the first increase in petrol prices in over eight months.

The ministry said those companies had registered the increase due to rises in
the price of petrol on the world market.

Fuel prices on the world market had seen an increase from last week, said the
ministry.

At present, the price on the world market was at 59.54 USD per barrel (1 barrel
=117.34 litres) of unleaded petrol, 63-64 USD per barrel of diesel oil, 62.63 USD
per barrel of kerosene and 272 USD per tonne of mazut oil.

With those prices, the companies said that they were losing 1,000 VND per litre of
petrol, 500 VND per litre of kerosene and 300 VND per litre of mazut oil.
Other retail prices were currently set at 11,000 VND per litre for kerosene,
10,000 VND per litre for diesel oil and 8,500 VND per litre for mazut
oil-Enditem