Following approval from the Ministry of Finance and the Ministry of Industry and Trade, as from 2pm on Wednesday 18 December the price of 92 RON petrol was increased by 584 VND per litre to 24,214 VND.

In addition, the retail prices of diesel and kerosene rose by 653 VND and 384 VND per litre respectively, but the price of mazut remains unchanged at 18,810 VND per litre.

Local residents are worried that this hike in petrol prices will drive up the costs of some consumer goods in the run-up to Tet.