Retail prices for petrol were increased by VND 410 per litre, effective from 8pm on July 7, pushing the price of RON 95 petrol to an all-time high at VND 26,140 per litre.

The price of RON 92 petrol also went up by the same amount to VND 25,640 per litre.

In the meantime, kerosene, diesel and fuel oil prices increased by VND 410, VND 290 and VND 130 per litre respectively.

This was the second price hike recorded within a month, after the rise of between VND 170 and VND 330 per litre on June 23.

The price adjustments were made following the Finance Ministry's statistics that the regulated base prices of RON 92 petrol in the last 30 days were VND 918 per litre higher than retail prices. Regarding kerosene, fuel oil and diesel, the disparity in retail prices and regulated base prices are between VND 294 and VND 437 per litre.

In addition to price increase, the Ministry of Finance allowed fuel dealers to increase the extraction from the fuel price stabilisation fund to keep the prices of petrol at a stable level.