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Vietnam raises retail fuel prices by up to 6.7 pct
December 20, 2016 / 9:55 AM / a year ago

Vietnam raises retail fuel prices by up to 6.7 pct

HANOI, Dec 20 (Reuters) - Vietnam has raised the retail prices of gasoline and other oil products by up to 6.7 percent, the largest increase this year, due to recent increases in crude oil, state-owned fuel importer and distributor Petrolimex said on Tuesday.

Diesel prices were increased by 6 percent to 12,670 dong ($0.56) per litre while kerosene advanced 6.6 percent to 11,940 dong, Petrolimex said in a statement.

Gasoline prices were lifted by 5.5 percent to 17,590 dong per litre, while the prices of other oil products were increased by up to 6.7 percent, said Petrolimex. The changes took effect from 0800 GMT.

Tuesday’s price hike is Vietnam’s second in less than a month. On Dec. 5, the Hanoi-based firm lifted petrol prices by nearly 2 percent, citing higher global oil prices.

Oil prices inched up on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. ($1=22,760 dong) (Reporting by My Pham; Editing by Ho Binh Minh and Christian Schmollinger)

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