Vietnam National Petroleum Corp (Petrolimex) said that gasoline price will officially increase another VND1,100 a liter at all retailer system of Petrolimex since 17h pm, August 13th, 2012. Kerosene price also ase additional VND500-800 a liter/kg.

After adjustment, Ron 95 and 92 gasoline prices up to VND23,500 and VND23,000 per liter, while kerosene and mazut prices rise to VND21,540 a liter and VND21,550 a kg respectively

Previuosly, some major distributors have sent a proposal to Ministry of Finance on price adjustment of fuel after base prices is at VND700-1,300 a liter higher than current prices.

This is the third time price hikes since Ministry of Industy and Trade and Ministry of Finance authorized price decision to major distributors.

The price increase in the context of the Dung Quat oil refinery outages and world prices soared recently.

According to source, prices of petroleum products market in Singapore also increased continuously. RON 92 gasoline price has up to USD127.63 a barrel in August 10th from USD116.4 per barrel on August 1st.

Xangdau.net