Vietnam hikes fuel prices for 2nd time in month to near record high
Tuesday, April 22, 2014, 15:09 GMT+7
Fuel prices in Vietnam have surged to near-record levels as the Ministry of Finance allowed wholesalers to increase gasoline and oil prices for the second time in a little over a month on Tuesday.
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.
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