On the afternoon of September 26, the Ministries of Industry and Trade and Finance announced adjustments to the selling prices of gasoline and oil products.
In this price adjustment, the Ministries continued to not use the Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, 0.05S diesel oil, kerosene, and mazut.
After the adjustment, the selling prices of popular gasoline and oil products in the market are as follows:
 E5RON92 gasoline: not exceeding VND 19,620 per liter (up VND 679 per liter compared to the current base price) and lower than RON95-III gasoline by VND 898 per liter.
RON95-III gasoline: not exceeding VND 20,518 per liter (up VND 756 per liter compared to the current base price).
0.05S diesel oil: not exceeding VND 17,506 per liter (up VND 463 per liter compared to the current base price).
Kerosene: not exceeding VND 17,873 per liter (up VND 322 per liter compared to the current base price).
180CST 3.5S mazut: not exceeding VND 15,357 per kg (up VND 531 per kg compared to the current base price).
Regarding the reason for the increase in gasoline and oil prices, the Ministries explained that the world gasoline and oil market during this price adjustment period (from September 19, 2024, to September 25, 2024) was influenced by factors such as increased conflict in the Middle East, economic stimulus measures by China, and the ongoing military conflict between Russia and Ukraine. These factors caused fluctuations in world gasoline and oil prices in recent days, with prices increasing or decreasing depending on the product.
Specifically, the average price of world gasoline and oil products between the price adjustment on September 19, 2024, and September 26, 2024, was as follows: $80.942 per barrel for RON92 gasoline, which is used to blend E5RON92 gasoline (up $3.924 per barrel, or 5.09%); $85.586 per barrel for RON95 gasoline (up $4.082 per barrel, or 5.01%); $84.872 per barrel for kerosene (up $1.884 per barrel, or 2.27%); $84.446 per barrel for 0.05S diesel oil (up $2.712 per barrel, or 3.32%); and $446.294 per ton for 180CST 3.5S mazut (up $19.406 per ton, or 4.55%).
In this price adjustment, given the fluctuations in world gasoline and oil prices, exchange rates, and current regulations, the Ministries of Industry and Trade and Finance decided on a price adjustment plan to ensure that domestic gasoline and oil prices are suitable for the world gasoline and oil market. The Ministries also aim to maintain a reasonable price difference between bio-gasoline E5RON92 and mineral gasoline RON95 to encourage the use of biofuels as per the government’s policy and to balance the interests of all market participants.
The Great Fuel Price Drop: RON95-III Plunges to an Astonishing 19,635 VND per Liter
In line with global trends, domestic petrol and oil prices witnessed a significant drop during the trading session on the 12th of September. Specifically, E5RON92 gasoline decreased by 1,089 VND per liter, while RON95-III gasoline fell by 1,192 VND per liter. Various types of oils also experienced reductions ranging from 688 VND to 934 VND per liter when compared to the current base prices.
The Commodities Rundown: Oil, Copper, Aluminum, Steel, and Rubber Rally, While Gold Holds Steady
As of the market close on September 9th, commodities were mostly on the rise, with oil, copper, aluminum, steel, rubber, and coffee futures all posting gains. Gold prices held steady, while natural gas in the US fell.
Fuel Prices Drop Below 21,000 VND per Liter – The Lowest Since the Start of the Year
Today’s price adjustment (September 5th) sees domestic gasoline prices drop by 280 to 360 VND per liter.
The Great Fuel Price Drop: Up to 600 VND Per Liter
Today (August 15), domestic gasoline prices fell by 460 to 540 VND per liter.
