Since the beginning of this year, the retail prices of petrol have been adjusted up nine times and down for only three times. (Photo: VNA)

The retail prices of oil and petrol continued to rise from May 23 following the latest adjustment by the Ministry of Industry and Trade and Ministry of Finance.

Accordingly, from 3pm, the price of RON95 bio-fuel RON95 was raised by 670 VND per litre to 30,650 VND (1.32 USD) per litre, while that of E5 RON92 rose by 680 VND per litre to 29,630 VND (1.28 USD) per litre.

Meanwhile, the price of diesel oil was down by 1,100 VND per litre to 25,550 VND (1.1 USD) per litre. A decrease of 660 VND per litre was also seen in the price of kerosene to 24,400 VND (1.05 USD).

Since the beginning of this year, the retail prices of petrol have been adjusted up nine times and down for only three times.

According to the General Statistics Office (GSO), the hike in petrol prices is the major factor pushing up CPI in the first four months of this year. Domestic petrol prices surged 48.84 percent year on year, which led to a 1.76 percentage point rise in CPI.

The average CPI for the first four months of this year rose 2.1 percent year on year, higher than 0.89 percent recorded in the same period last year, but lower than the increases in the January-April period in 2017-2020. The core inflation was also up 0.97 percent.