The Ministry of Industry and Trade, and the Ministry of Finance set aside VNĐ200 per litre for biofuel into the Petroleum Price Stabilisation Fund, financed through a temporary advance from the state budget. No disbursement was made from the fund.
This was the second increase in retail fuel prices this year. The global price of oil has increased from US$60 per barrel early this year to $70 now, and the uptrend is forecast to continue.
