Viet Nam’s gasoline prices reached a record high for the year on Tuesday after a 5.5% hike.

A man has a refill in Ha Noi. (Photo by VnExpress)

The ministries of finance and industry raised the price of RON 92, the country’s most popular fuel, to 17,594 VND (77 cents) a liter, while its biofuel alternative E5 is now selling for 17,322 VND (76 cents) a liter.

The cost of diesel and other forms of oil products were also bumped up, with the ministries blaming rising global prices.

This is the 13^th hike this year, compared to 10 price cuts.

Viet Nam imported 10.6 million tons of fuel worth 4.3 billion USD in the first 11 months of this year, up 17% in volume but down 12.7% in value from a year ago, according to the General Statistics Office. Singapore was the top supplier, exporting 3.73 million tons to Viet Nam, followed by Malaysia and South Korea.

(Source: VNExpress International)