The ministries of Industry and Trade and Finance upped fuel price last Friday, and prices of biofuel E5 RON 92 went by VND675 per liter to VND20,906 (90 cents) and that of RON 95 by VND577 to VND22,347 (96 cents). Kerosene prices went up by VND485 to VND17,086 (73 cents) per liter and that of mazut oil by VND752 to VND15,694 (67 cents) per kilogram. The ministries said that the increase in domestic prices followed a rise in world fuel prices of 3-5 percent over the last 15 days. They said that a RON 92 barrel costs $90.36, RON 95, $92.40 and diesel, $96.89. This was the third fuel price hike since early September. In this period, the per liter price of E5 RON 92 went up by VND1,296 (5.6 cents) in total, while that of RON 95 rose by VND1,170 (5 cents). While the latest increase has raised concerns among economists that Vietnam will not be able to meet its inflation target for the year, transportation businesses are worried about immediate impacts. Lam Dai Vinh, director of a cargo business said that he had to raise his service prices as fuel price accounts for 40 percent of his costs…. Read full this story
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