Retail petrol prices have increased by 1,430 VND per litre to 24,580 VND
while diesel rose by 362 VND to 21,912 VND per litre.
This is above the highest level of 23,800 VND per litre of petrol seen in April 2012.
Meanwhile, the price of kerosene rose by 480 VND and mazut by 807 VND to 22,080 VND and 18,457 VND respectively.
Announcing the price hike on March 28, the Ministry of Finance
attributed its move to recent months’ fluctuations in world fuel prices,
despite the government’s use of the Price Stabilisation Fund and other
measures to keep the domestic price stable.
World prices have
been 1,000 VND to 2,300 VND higher than domestic prices since February
26. With the fund having run out, the government was forced to raise
fuel prices to prevent cross-border smuggling from Vietnam , the
ministry said.-VNA