The Ministry of Finance has announced to allow domestic fuel traders to increase fuel prices in the Vietnamese market from 305 to 370 dongs a liter as of 8:00pm today. US$1 = VND20,800.

The petrol price is permitted by the ministry to an increase of a maximum of 367 dongs a liter, DO oil 370 dongs liter, kerosene 305 dongs a liter, and mazut oil 328 dongs a liter.

According to the ministry, it accepts local fuel traders to adjust the fuel prices because the world prices in the last 30 days have remained high.

In the world, RON 92 petrol is priced at US$114.5 a barrel, diesel 0.05S at $118.84 a barrel, kerosene $116.49 a barrel, and mazut 3.5S oil at $622.42 a ton.

In April this year, the Ministry of Finance had three times lowered the fuel prices before it allowed an increase of a maximum of 426 dong a liter two weeks ago.