What is the reason for the continuous increase in gas prices?

(Dan Tri) - Gasoline prices in the afternoon of June 26 increased for the 5th consecutive session, RON 95 gasoline reached 21,500 VND/liter. What causes the prices of these items to continuously increase?

The price of E5 RON 92 gasoline on the afternoon of June 26 increased by VND280/liter to VND20,910/liter; RON 95 gasoline increased by VND260/liter to VND21,500/liter. Similarly, diesel also increased by VND550/liter to VND19,700/liter, kerosene increased by VND490/liter to VND19,410/liter. Fuel oil alone decreased by VND380/kg to VND17,260/kg.

Thus, the domestic price of RON 95 gasoline has increased for 5 consecutive sessions after only one decrease. Currently, the price of this fuel is still at the lowest level in the past 4 years, equivalent to July 2021. Since the beginning of the year, RON 95 gasoline has increased 15 times, decreased 11 times. Diesel has increased 14 times, decreased 11 times and remained unchanged once.

Explaining the reason for the price adjustment, the management agency said that the world oil market during this adjustment period (from June 19 to June 25) was affected by many factors.

The operator stated that the conflict between Israel and Iran in the Middle East; 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.

In addition, the average price of finished petroleum products in the world between the two price adjustment periods was 84.43 USD/barrel of RON 92 gasoline used to blend E5 RON 92 gasoline (up 1.35 USD/barrel, equivalent to an increase of 1.62%); RON 95 gasoline was 86.28 USD/barrel (up 1.15 USD/barrel, equivalent to an increase of 1.36%); diesel oil was 92.42 USD/barrel (up 2.86 USD/barrel, equivalent to an increase of 3.19%).

In this management period, the joint ministries continued not to set aside or spend the price stabilization fund for all gasoline and oil products.

Faced with the developments in world oil prices, fluctuations in the VND/USD exchange rate and current regulations, the Ministry of Industry and Trade and the Ministry of Finance jointly said that the above oil price management plan aims to ensure that domestic oil price fluctuations are consistent with world oil price fluctuations.

Source: https://dantri.com.vn/kinh-doanh/ly-do-gi-khien-gia-xang-lien-tuc-tang-20250627062943691.htm