Gasoline and oil prices both decrease

DNVN - After the adjustment by the Ministry of Industry and Trade - Ministry of Finance, from 3:00 p.m. on May 5, gasoline prices were simultaneously adjusted down from 52 VND - 326 VND/liter or kg depending on the type.

During the operating period on May 5, the Ministry of Industry and Trade - Ministry of Finance decided not to set aside or use the Petroleum Price Stabilization Fund for all petroleum products.

After making provisions and spending the Petroleum Price Stabilization Fund, each liter of E5 RON 92 and RON 95 III gasoline was adjusted down by VND 84 and VND 52, respectively, compared to the current base price, to the new prices of VND 19,154/liter and VND 19,586/liter.

From 3:00 p.m. on May 5, gasoline prices were adjusted down by 52 VND - 326 VND/liter or kg depending on the type.

Diesel, kerosene and fuel oil prices were also adjusted down by VND165, VND151 and VND326 to VND17,359/liter, VND17,564/liter and VND16,198/kg.

According to the Ministry of Industry and Trade, the world oil market from April 24 to May 4, 2025 was affected by major factors such as: OPEC+ increased oil production in June; US tax policy on goods of trading partners leading to concerns about economic recession; military conflict between Russia and Ukraine continues... Therefore, world oil prices in recent days have fluctuated up and down depending on the commodity, but the general trend is downward.

Thus, from the beginning of 2025 to now, domestic gasoline prices have undergone 18 adjustment sessions, including 10 decrease sessions, 7 increase sessions and 1 opposite session.

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Source: https://doanhnghiepvn.vn/kinh-te/xang-dau-cung-giam-gia/20250505030100081