Vietnam allows retail gasoline prices to rise

Vietnam’s Ministry of Finance has allowed local importers to raise by 4.16 to 4.5%, or an average increase of 4.3%, retail prices for gasoiline products due to increases in global oil prices. Petrolimex, which is the country’s biggest importer of petroleum products, said it has raised retail prices for 92-RON gasoline to 12,000 dong (US$0.68) per liter from 11,500 dong (US$0.65) per liter, while it has upped the price of 95-RON to 12,500 dong (US$0.71) per liter from 12,000 dong (US$0.68) per liter. Its kerosene prices, meanwhile, has been increased to 11,500 dong (US$0.65) per liter from 11,000 dong (US$0.65) per liter. The Ministry of Finance last allowed the country’s petroleum product import companies, all of which are state run, to raise the retail prices of gasoline products on April 2, 2009, with an average increase of 4.5%. (April 11, 2009)