When most local residents were all eyes on the historic football match between their national team and the English Premier League club Arsenal in Hanoi last night, the Ministry of Finance announced yet another fuel price hike.

Gasoline prices were hiked by VND460 per liter, sending the RON 92 product to VND24,570 per liter, smashing the record set last March.

RON 95 price too climbed onto a new height -- VND25,070 per liter. This is the first time RON 95 petrol price exceeded the VND25,000 mark.

Prices of diesel oil and kerosene were up by VND470 a liter, now selling at VND22,310 per liter, and VND22,020 per liter, respectively.

The price increase became applicable since 8 p.m. on Wednesday, when the Vietnamese football squad was challenged by the British club Arsenal during an exhibition game. Many local netizens thus joked on Facebook that the unexpected price hike was the most remarkable goal that night.

Petrol price was increased to VND24,550 a liter in March 28, the highest-ever at that time.

The Wednesday price adjustment came following the upward trend of global fuel prices, the ministry said in a statement.

Fuel wholesalers thus incurred losses between VND726 and VND988 on every liter of fuel they sold, depending on the type, the document reads.

At a time when the fuel import taxes cannot be cut further, while the fuel price stabilization fund has almost been used up, the only solution is to increase retail prices, the ministry said.

This is the fourth fuel price hike so far this year, and the third in more than a month.

The latest price adjustment prior to the Wednesday hike was on June 28, when gasoline price was increased by VND400 per liter to VND24,110 per liter.