The retail price of petrol saw a sharp rise at 3pm on June 27, marking the fourth hike since April following the latest review carried out by the Ministry of Industry and Trade and the Ministry of Finance.

In line with the changes, the price of E5 RON92 gasoline saw an increase of VND868 to a maximum of VND14,258, whilst RON 95 petrol rose by VND893 to VND14,973 per litre.

Moreover, the price of kerosene also rose by VND428 to no more than VND10,038, while diesel oil inched up by VND599 to a maximum of VND12,114 per litre. Elsewhere, mazut prices were capped at VND10,903 VND per kilo, indicating a rise of VND581. 

The latest price hike marks the fourth consecutive increase in petrol prices since April, with the increase matching the rising global price of petrol. 

According to the two ministries, both production and business activities have enjoyed a bounce back despite the ongoing complex nature of the novel coronavirus globally, pushing up fuel prices once again. 

Indeed, the past 15 days has seen the global price of petroleum products increase by 3.5% to 12.2% compared to the previous review.