New Gasoline and Oil Price Decreases in Vietnam: A Volatile Fuel Market Driven by External Factors”.
New adjustments made by the Ministry of Industry, Trade, and Finance have caused a decrease in gasoline and oil prices at 3:00 p.m. today. RON 95-III gasoline dropped by 1,410 VND to 23,540 VND per liter, while E5 RON 92 gasoline decreased by 1,290 VND to 22,620 VND per liter. Oil products also experienced a decrease in prices, with new prices ranging from 17,500 to 19,840 VND per liter. Fuel oil was reduced by 260 VND to 17,660 VND per kg.
In recent times, gasoline and oil prices have fluctuated multiple times due to various factors such as global economic conditions and geopolitical tensions. Despite these changes, the Price Stabilization Fund for fuel products was not utilized during this period. The operator mentioned that fuel prices were affected by factors such as the increase in US commercial crude oil inventories and ongoing military conflicts.
The average prices for gasoline and oil saw a decrease in the past seven days, with finished gasoline prices dropping by 7-7.1% and oil prices decreasing by 1-4.9%. Each barrel of RON 95 gasoline is now priced at 98.4 USD, diesel at 96 USD, and mazut at 514.7 USD per ton. The fluctuations in prices reflect the dynamic nature of the fuel market driven by a combination of global and local factors.
Overall, these recent changes in gasoline and oil prices demonstrate how volatile the fuel market can be due to various external factors beyond government control.
