Vietnam raises petroleum prices again
Tuesday, 22 July 2008
HANOI, July 21 (Xinhua): Vietnam raised its retail price of standard petroleum by 31 per cent from July 21 due to increasing world oil prices, the country's Finance Ministry announced today morning.
The price of A92 petroleum, most commonly used by vehicle drivers in Vietnam, rose to 19,000 Vietnamese dong (VND) (1.2 U.S. dollars) per liter from previous 14,500 VND (0.9 dollars), and that of diesel oil climbed by 2,000 VND (over 0.1 dollars) to 15, 950 VND (nearly one dollar).
Vietnam, adjusting retail prices of petroleum products five times last year, has so far raised the prices twice in 2008. On Feb. 25, the price of A92 petroleum rose by 1,500 VND (nearly 0.1 dollars).
"I am considering the possibility of abandoning my fuel- consuming motor- scooter to go to work by bus. Before the petroleum price hike today, each month my motorbike and my husband's cost us around 800,000 VND (50 dollars), or one-tenth of our total monthly expense," said Nguyen Thi Hao, editor of Vietnam Post newspaper.
Mainly due to fluctuations in world oil prices, Vietnam adjusted its retail prices of petroleum products three times, including two hikes and one decrease in 2005; four times (two ups and two downs) in 2006, and five times (three ups and two downs) in 2007.
The price of A92 petroleum, most commonly used by vehicle drivers in Vietnam, rose to 19,000 Vietnamese dong (VND) (1.2 U.S. dollars) per liter from previous 14,500 VND (0.9 dollars), and that of diesel oil climbed by 2,000 VND (over 0.1 dollars) to 15, 950 VND (nearly one dollar).
Vietnam, adjusting retail prices of petroleum products five times last year, has so far raised the prices twice in 2008. On Feb. 25, the price of A92 petroleum rose by 1,500 VND (nearly 0.1 dollars).
"I am considering the possibility of abandoning my fuel- consuming motor- scooter to go to work by bus. Before the petroleum price hike today, each month my motorbike and my husband's cost us around 800,000 VND (50 dollars), or one-tenth of our total monthly expense," said Nguyen Thi Hao, editor of Vietnam Post newspaper.
Mainly due to fluctuations in world oil prices, Vietnam adjusted its retail prices of petroleum products three times, including two hikes and one decrease in 2005; four times (two ups and two downs) in 2006, and five times (three ups and two downs) in 2007.