Gasoline prices unexpectedly rose Monday by VND540-620 (US$2.3-2.6 cents) per liter, while oil products dropped by VND300-980 per liter.
This is the fifth time retail fuel prices have been adjusted in only six weeks this year.
The price of the Vietnam’s number one selling gasoline RON 95-III went up by VND620 to VND23,760 per liter, and the cost of E5 RON 92 increased by VND540 to VND22,860.
Meanwhile, the diesel price fell by VND960 to VND21,560, kerosene dropped by VND980 to VND21,590 dong per liter, and mazut oil decreased VND300 to VND13,630.
The price hikes announced by the Ministry of Industry and Trade and the Ministry of Finance surprised businesses because it went against the previous forecast.
However, the two ministries said their fuel price management plan would help curb inflation and stabilize the market.