Hanoi: From 3:00 p.m. on March 7, retail prices of petrol and oil products saw a sharp increase following a decision by the joint Ministry of Industry and Trade and the Ministry of Finance.

According to Vietnam News Agency, the price of E5 RON92 petrol is now capped at 25,226 VND per litre (0.96 USD), marking an increase of 3,777 VND per litre compared to the base price set on March 5. This price adjustment keeps E5 RON92 petrol 1,821 VND per litre lower than RON95-III petrol. Meanwhile, the price of RON95-III petrol has been set at no more than 27,047 VND per litre, reflecting an increase of 4,707 VND.

The adjustment in fuel prices is part of a regulatory decision by the government ministries, impacting consumers and businesses relying on petrol and oil products. These changes are expected to influence transportation and production costs across various sectors.