The Inter-Ministry of Industry and Trade - Finance decided to increase prices of oil and petrol products from 3:00 pm on May 4.

In particular, the retail price of E5RON92 increased by VND334 to a maximum of VND27,468 VND /liter while that of RON95-III rose by VND442 to no more than VND28.434/liter.

The prices of oil products were also adjusted up in line with the rising trend of world oil prices.

Accordingly, the price of diesel oil is currently on sale at VND25,530 /liter, up VND171/liter, and that of kerosene remains unchanged at VND23,828 /liter. Meanwhile, the retail price of Mazut fuel oil is not higher than VND21,560/kg, down VND240/kg compared to the current retail price.

To support for production and business activities of enterprises and people's daily life, and limit the increase in petrol and oil prices, the Inter-Ministry of Industry and Trade - Finance has decided to continue to use the fuel price stabilisation fund to stabilise petrol prices of E5RON92 at VND300/liter, RON95 at VND400/liter, diesel oil at VND100/liter, and kerosene at VND119/liter.

Reporting by QUYNH TRANG - Translating by M.DUNG