HÀ NỘI — The ministries of industry and trade and finance on Saturday raised retail petrol prices for the first time in 2017. The two ministries also decided to reduce the use of the petrol price stabilisation fund for RON92 petrol and E5 bio-fuel. According to the ministries, retail petrol prices were increased because the average global petrol prices in the 15 days prior to Saturday was about $68 for each RON92 barrel and about $66 for each 0.05S diesel barrel, an increase of $1 from the last adjustment. This was also the first time this year that retail petrol prices were increased after they had remained unchanged after three revisions. Last year, petrol retail prices were adjusted 24 times, increasing 13 times by a total VNĐ6,000 per litre, decreasing nine times by a total of VNĐ4,463 per litre and remaining unchanged twice.

Source: Viet Nam News February 19, 2017 17:15 UTC