The government announced Thursday another hike in retail petrol prices, the ninth increase of the year.
The ministries of finance, industry and trade announced that the new retail price of A92, the most common type of gasoline for cars and motorbikes, will go up by VND800 (4 cents) to VND16,300 (91 cents) a liter.
The price of diesel will rise by VND1,000 (6 cents) to VND14,300 (80 cents) a liter.
Kerosene – mostly used in rural areas for cooking – will increase by VND1,000 (6 cents) to VND15,200 (85 cents) a liter.
The new price hike was proposed by state-run petroleum companies who said they were being hurt by the recent surge in world oil prices.
The firms claimed they were losing VND400 (2 cents) a liter on petrol and VND800 (4 cents) on diesel sold at the pumps.
Petrol prices have gone up nine times, and only down once this year.
The first petrol price hike was announced on April 2, with A92 gasoline priced at VND11,500 (64 cents) per liter, up from the previous VND11,000 (62 cents).
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