RON95 gasoline price falls to 20,000 VND, world oil price drops more than 1%

Domestic gasoline prices on December 3 continued to fall sharply after the adjustment period. The world oil market also cooled down due to expectations of Russia-Ukraine negotiations and concerns about oversupply.

Domestic gasoline prices continue to stay low

According to updated data, the domestic retail price of gasoline on the morning of December 3 was applied according to the price level at the afternoon adjustment session on November 27 of the Ministry of Industry and Trade - Ministry of Finance. Accordingly, all gasoline products recorded a significant decrease.

Specifically, the price of E5 RON 92 gasoline decreased by 519 VND/liter, with a new selling price of 19,288 VND/liter . The price of RON95-III gasoline decreased by 533 VND/liter, falling to 20,009 VND/liter . This is a low price, bringing benefits to consumers and supporting production and business activities.

For oil products, the decrease was even deeper. Diesel oil decreased by 1,026 VND/liter, down to 18,800 VND/liter. Kerosene decreased by 815 VND/liter, priced at 19,473 VND/liter. Fuel oil also decreased by 251 VND/kg, down to 13,488 VND/kg.

Item	Retail price (VND/liter or kg)	Rate of change
E5 RON 92 gasoline	19,288	-519
RON95-III gasoline	20,009	-533
Diesel	18,800	-1.026
Oil	19,473	-815
Fuel oil	13,488	-251

According to the Joint Ministry, the world price of petroleum products during the management period from November 20 to 26 decreased from 2.5% to more than 6%, creating the basis for adjusting domestic prices down. Since the beginning of 2025, gasoline prices have undergone 45 adjustment periods, with 20 increases, 20 decreases and 5 opposite fluctuations. During this period, the management agency did not set aside or use the Petroleum Price Stabilization Fund.

Developments in the world oil market

World oil prices recorded a decline as the market closely monitored geopolitical developments.

In the international market, at 4:30 a.m. on December 3 (Vietnam time), crude oil prices were adjusted down. Brent oil was trading at 62.99 USD/barrel , while WTI oil was at 59.16 USD/barrel , down more than 1%.

Geopolitical pressure and diplomatic expectations

The decline in oil prices is believed to have come as the market reassessed the supply outlook amid diplomatic efforts related to the Russia-Ukraine conflict. Investors are watching a meeting on December 2 between Russian President Vladimir Putin and special envoys of US President Donald Trump.

CSIS expert Clayton Seigle said oil prices were being held down by “fragile confidence in a peace deal” that could lead to an easing of restrictions on Russian oil. However, he also warned that the risk of supply disruptions remained.

Meanwhile, other uncertainties continue to impact markets. President Donald Trump has warned of a possible “total shutdown” of airspace around Venezuela, a major oil producer, raising concerns about new supply disruptions.

Balancing risks and oversupply concerns

On the other hand, concerns about oversupply are putting downward pressure on prices. The Caspian Pipeline Corporation has announced the resumption of oil exports from a Black Sea anchorage, easing concerns about a temporary shortage.

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) also decided to maintain the common production level until the end of December 2026. This move is expected to limit the possibility of sharp increases in oil prices in the short term.

Oversupply pressure is being offset by geopolitical risks, but the level of market volatility remains difficult to predict accurately, according to Rystad Energy expert Janiv Shah.

Source: https://baolamdong.vn/gia-xang-ron95-ve-moc-20000-dong-dau-the-gioi-giam-hon-1-406853.html