The Vietnam National Petroleum Corporation (Petrolimex) is the first to implement the latest increase in oil and petrol prices as of 00:00 am on July 1 while other businesses applied the new prices later in the day.

Accordingly, petrol prices have increased by VND700 per litre. For example, A92 petrol rose from VND13,500 to VND14,200 per litre while one litre of A95 was increased from VND14,000 to VND14,700.

Kerosene is now selling at VND13,650/litre, mazut fuel oil 3S, 3.5 S VND at 10,500/litre and diesel oil VND12,100/litre. According to enterprises, over the past 30 days, the price of refined A92 petrol imported from Singapore stayed up at US$74.98 per barrel, diesel oil rose by 0.25 percent to US$76.79/barrel, mazut oil US$400.69 per tonne. During June the 30’s session in New York, crude oil in July was offered at US$72, 63/barrel, up US$1.14 per barrel against the previous day.

At these prices, traders will face losses of nearly VND900 for one litre of A92 petrol and between VND1,500-2,000 for one litre of oil. Domestic retail petrol and oil prices have been adjusted twice last month. Earlier on June 10, the price of oil products increased by VND1,000 per litre.