Gasoline prices continue to decrease from 3pm today, May 8

Buying and selling gasoline at a Petrolimex gas station on Tran Hung Dao Street, Hoan Kiem District, Hanoi. Photo: Le Dong/VNA

Based on the developments in world 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 petroleum products to ensure domestic prices are consistent with world trends, encouraging the use of fuel.

Specifically, the maximum retail prices for petroleum products are applied as follows: E5RON92 gasoline: no higher than VND 18,777/liter (down VND 377/liter compared to the previous period). RON95-III gasoline: no higher than VND 19,179/liter (down VND 407/liter compared to the previous period). Diesel 0.05S: no higher than VND 16,809/liter (down VND 550/liter compared to the previous period). Kerosene: no higher than VND 16,941/liter (down VND 623/liter compared to the previous period). Mazut 180CST 3.5S: no higher than VND 15,533/kg (down VND 665/kg compared to the previous period).

Thus, since the beginning of the year, domestic gasoline prices have undergone 19 adjustments, of which RON 95 gasoline increased 9 times and decreased 10 times; diesel oil increased 8 times, decreased 10 times and remained unchanged once.

In this operating period, the management agency does not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel, kerosene, and fuel oil. The adjusted selling prices of petroleum products are determined by the petroleum wholesale traders and petroleum distributors, but no later than 3:00 p.m. on May 8.

The Ministry of Industry and Trade affirmed that it will continue to coordinate with relevant agencies to inspect and supervise the implementation of regulations on ensuring petroleum supply, and strictly handle violations if detected.

According to the Ministry of Industry and Trade, the world oil market in this management period (from May 5, 2025 to May 7, 2025) is affected by main factors such as: increased tensions in the Middle East; OPEC+ accelerates the increase in oil production; the military conflict between Russia and Ukraine continues... The above factors have caused world oil prices to fluctuate up and down in recent days depending on the product.

The average price of finished petroleum products in the world between the price adjustment period on May 5 and the adjustment period on May 8 was: 73,280 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 1,965 USD/barrel, equivalent to a decrease of 2.61%); 74,863 USD/barrel of RON95 gasoline (down 1,985 USD/barrel, equivalent to a decrease of 2.58%); 76,780 USD/barrel of kerosene (down 3,368 USD/barrel, equivalent to a decrease of 4.20%); 76,770 USD/barrel of 0.05S diesel (down 2,950 USD/barrel, equivalent to a decrease of 3.70%); 405,157 USD/ton of 180CST 3.5S fuel oil (down 22,473 USD/ton, equivalent to a decrease of 5.26%).

Source: https://baothainguyen.vn/kinh-te/202505/gia-xang-dau-tiep-tuc-giam-tu-15h-chieu-nay-85-e4f1f3d/