Retail petrol prices rose sharply from 3pm on June 12 - the third hike in the past month - following the latest review by the Ministry of Industry and Trade and the Ministry of Finance.

Motorcyclists wait to have their vehicles refilled at a Petrolimex gas station (Photo: VNA)

The two ministries review fuel prices every 15 days to ensure domestic prices are in keeping with the global market.

The price of E5 RON92 biofuel increased by 988 VND to a maximum of 13,390 VND (0.57 USD) per litre and RON95-III by 955 VND to no more than 14,080 VND per litre.

Diesel 0.05S and kerosene, meanwhile, now sell at no more than 11,515 VND and 9,610 VND per litre, up 766 VND and 853 VND per litre, respectively.

The price of Mazut 180CST 3.5S is now no more than 10,322 VND per kg, an increase of 830 VND per kg.

According to the two ministries, the prices of petrol and oil in the global market have been on the rise on the back of increasing demand as countries have begun resuming production and business activities.

The ministries also decided to use 800 VND per litre from the petrol price stabilisation fund for E5 RON92, 500 VND per litre for RON95, and 200 VND per kilo for mazut.

Source: VNA