Vietnam hikes fuel prices for 2nd time in month to near record high
The maximum price increase approved for gasoline is VND210 (1 U.S. cent) per liter, while the respective hikes for diesel oil and kerosene are VND170 a liter and VND130 a liter, the finance ministry said in a directive released just before noon on Tuesday.
Starting 12:00 am, Petrolimex, the country’s largest fuel wholesaler, has distributed A92 gasoline, the most popular fuel in the country, at VND24,900 (US$1.17) a liter, surpassing the VND24,580 peak it set in March 2013.
A92 gasoline prices are now only VND100 away from the record VND25,000 a liter mark.
Diesel oil currently fetches VND23,820 a liter, and kerosene VND22,480 a liter.
This is the third fuel price hike in 2014, announced just a little more than a month from the second one on March 19, when petroleum gained VND180 a liter.
Petrol prices were up VND300 a liter in the first spike of the year on February 21.
