This afternoon, gasoline and oil prices increased simultaneously.

Retail prices of 5 petroleum products increased simultaneously from the afternoon of May 15. Photo: T.Hoa

The global oil and gas market during the period from May 8 to 14 was affected by key factors such as: the temporary agreement to cut import tariffs on goods between the US and China, continued tensions in the Middle East; OPEC+ accelerating the increase in oil production; the ongoing military conflict between Russia and Ukraine...

The above factors have mainly caused the world's gasoline and oil prices to fluctuate upward in recent days.

Based on the developments in world gasoline and oil prices, fluctuations in the VND/USD exchange rate and current regulations, the Ministry of Industry and Trade - Ministry of Finance decided to adjust retail prices of gasoline and oil products to ensure domestic prices are consistent with world trends, encourage the use of biofuels and harmonize interests among market participants.

Accordingly, the joint ministries do not make provisions and do not spend the Gasoline and Oil Price Stabilization Fund for all products.

Specifically, from 3:00 p.m. on May 15, the maximum retail price for gasoline and oil products will be applied as follows: E5RON92 gasoline will not be higher than VND19,180/liter (an increase of VND403/liter); RON95-III gasoline will not be higher than VND19,594/liter (an increase of VND415/liter).

Diesel 0.05S is not higher than 17,228 VND/liter (up 419 VND/liter); kerosene is not higher than 17,226 VND/liter (up 285 VND/liter) and fuel oil 180CST 3.5S is not higher than 16,160 VND/kg (up 627 VND/kg).

Source: https://hanoimoi.vn/chieu-nay-xang-dau-dong-loat-tang-gia-702347.html