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Gasoline prices are close to 23,000 VND per liter.

Việt NamViệt Nam18/07/2024

Gasoline and diesel prices both decreased from 3 PM today, following adjustments by the Ministry of Industry and Trade and the Ministry of Finance.

The price of RON 95-III gasoline (the most common type on the market) decreased by 120 VND, to 23,170 VND per liter. E5 RON 92 gasoline remained at 22,170 VND per liter, down 110 VND.

New prices for petroleum products range from 17,610 to 20,660 VND per liter. Compared to seven days ago, diesel fuel has decreased by 330 VND, to 20,500 VND per liter. Kerosene is 370 VND cheaper, and fuel oil is down to 17,610 VND per kilogram.

Gasoline and diesel prices   The changes are as follows:

Item New price Change
RON 95-III gasoline 23,170 - 120
E5 RON 92 gasoline 22,170 - 110
Diesel 20,500 - 330
Kerosene 20,660 - 370
Fuel oil 17,610 - 170

Units: VND/liter or kg, depending on the type.

Thus, from the beginning of the year until now, gasoline prices have increased 16 times and decreased 12 times. Diesel prices have increased 14 times and decreased 14 times. Similar to the previous price adjustment period, today the inter-ministerial committee did not draw or use funds from the Price Stabilization Fund for fuel products.

Since the beginning of the year, the price of RON 95 gasoline has increased by 1,260 VND per liter, while diesel fuel has increased by 1,140 VND.

The operator stated that fuel prices fluctuated last week due to a decrease in US crude oil inventories, expectations of a US Federal Reserve (Fed) interest rate cut in the second quarter boosting the economy and oil demand, and the ongoing military conflict between Russia and Ukraine. On average over the past seven days, refined gasoline prices fell by approximately 0.6-0.7%, and diesel by 1.9-2.2%. Accordingly, each barrel of RON 95 gasoline dropped to $97.1, diesel to $99.3, and fuel oil to $514.5 per ton.


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