The inter-ministerial regulatory body has decided to increase the price of E5RON92 gasoline by 230 VND/liter compared to the current base price, bringing it to 19,986 VND/liter. The price of RON95-III gasoline has also risen by 208 VND/liter, reaching 20,608 VND/liter.
Fuel prices rise across the board from 3 PM today. Photo: Lê Thúy
Diesel 0.05S has increased by 62 VND/liter, reaching 18,705 VND/liter. Kerosene has risen by 176 VND/liter, reaching 18,544 VND/liter, and Mazut 180CST 3.5S has increased by 40 VND/kg, reaching 15,130 VND/kg.
During this regulatory period, the Inter-Ministry continues to neither allocate nor utilize the Price Stabilization Fund for petroleum products.
Gasoline Prices Rebound
Gasoline prices have rebounded after a slight decrease seven days ago. Previously, gasoline prices had dropped by 39-95 VND/liter.
According to the Inter-Ministry, the global petroleum market during this regulatory period has been influenced by key factors such as: the U.S. Federal Reserve (Fed) lowering interest rates; a decrease in U.S. crude oil inventories and an increase in distillate product inventories; the ongoing military conflict between Russia and Ukraine, with Ukraine escalating attacks on Russian oil refineries and ports…
These factors have caused global petroleum prices to fluctuate in recent days, varying by product.
“Pump Pain: RON 95-III Surges Past the 20,000 VND Per Liter Mark”
The decision to increase gasoline prices and decrease diesel prices, with the exception of mazut, was made by the Ministries of Industry and Trade and Finance on August 7th at 3 pm.
The Vice Premier’s Directive on Electricity and Fuel Price Regulation
“The esteemed Vice Prime Minister, Ho Duc Phoc, emphasizes the critical importance of effective price management and governance as a pivotal strategy to propel economic growth. Among the key areas of focus, he highlights the management of electricity and fuel prices, underscoring their impact on the broader economy. This directive serves as a timely reminder of the government’s commitment to fostering a stable and prosperous Vietnam.”
The Great Fuel Flip: Gasoline Discounts and Rising Oil Prices
On October 31, the fuel prices witnessed a mixed bag of trends. While gasoline prices for E5RON92 and RON95-III decreased by VND 284 and VND 391 per liter, respectively, oil prices saw an increase ranging from VND 91 to VND 263 per liter, compared to the current base price.
The Soaring Prices of Gas and Oil: RON 95 Surges Past 20,000 VND per Liter
Today (September 26th) saw a rise in domestic gasoline prices, with an increase of VND 680 to 750 per liter.
The Great Gas Price Plunge: What Happened Over the Last 3 Years?
As of 3 pm on September 12th, the joint decision by the Ministry of Industry and Trade and the Ministry of Finance to adjust retail fuel prices came into effect. Domestic fuel prices have seen a reduction of VND 688-1,192 per liter across the board.
