Gasoline and oil prices fell sharply

Today's fuel prices, effective from 3 PM on March 6, 2025, show a decrease of 697 VND/liter for E5 RON 92 gasoline and 710 VND/liter for RON 95 gasoline; diesel prices have also dropped significantly.

The Ministry of Industry and Trade and the Ministry of Finance have just adjusted retail gasoline and diesel prices in today's adjustment period (March 6). The prices will be applied from 3 PM on March 6, 2025.

Today's fuel prices, effective from 3 PM on March 6, 2025, show a decrease of 697 VND/liter for E5 RON 92 gasoline and 710 VND/liter for RON 95 gasoline; diesel prices also dropped sharply. (Photo: TT)

Specifically, the price of E5 RON 92 gasoline decreased by 697 VND/liter, to 19,961 VND/liter; RON 95 gasoline decreased by 710 VND/liter, to 20,402 VND/liter.

The price of 0.05S diesel decreased by 624 VND/liter, to 18,333 VND/liter; kerosene decreased by 762 VND/liter, to 18,573 VND/liter; and the price of 180CST 3.5S fuel oil decreased by 465 VND/kg, to 17,150 VND/kg.

During this price adjustment period, the Ministry of Industry and Trade - Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.

According to the Ministry of Industry and Trade, the average price of refined petroleum products in the world between the price adjustment period of February 27, 2025 and the price adjustment period of March 6, 2025 is as follows: 80.726 USD/barrel for RON92 gasoline used to blend E5RON92 gasoline (down 4.042 USD/barrel, equivalent to a 4.77% decrease); 82.302 USD/barrel for RON95 gasoline (down 3.824 USD/barrel, equivalent to a 4.44% decrease); 86.710 USD/barrel for kerosene (down 4.490 USD/barrel, equivalent to a 4.92% decrease); 86.544 USD/barrel for 0.05S diesel oil (down 3.686 USD/barrel, equivalent to a 4.09% decrease). 469,034 USD/ton for 180CST 3.5S fuel oil (down 17,200 USD/ton, equivalent to a 3.54% decrease).

On the world market, at 6:00 AM on March 6th, WTI crude oil prices rose by $0.14, or 0.21%, to $6.45 per barrel. US Brent crude oil prices fell by $1.74, or 2.45%, to $69.3 per barrel.

According to Reuters, while the 25% tariff applied to Canada and Mexico will remain in place, the U.S. will consider eliminating the 10% tariff on Canadian energy imports such as crude oil and gasoline, in compliance with the rules of origin under the trilateral agreement between the U.S., Mexico, and Canada.

Oil prices were also affected by data from the U.S. Energy Information Agency (EIA) showing that U.S. oil inventories rose by 3.6 million barrels to 433.8 million barrels in the week ending February 28, more than 10 times the analysts' expectation of a 341,000-barrel increase. This increase was due to seasonal refinery maintenance. According to the EIA, gasoline and distillate inventories decreased by 1.4 million barrels and 1.3 million barrels, respectively, due to increased exports.

Previously, on February 27th, the Ministry of Industry and Trade - Ministry of Finance adjusted gasoline prices downwards. Specifically, the price of RON 95 gasoline decreased by 220 VND/liter, with the selling price being 21,110 VND/liter.

Similarly, the price of E5 gasoline was also adjusted down by 200 VND/liter, bringing the selling price to 20,650 VND/liter.

Following the same trend, the price of diesel fuel was adjusted down by 110 VND/liter, with the selling price at 18,950 VND/liter.

During this price adjustment period, the Ministry of Industry and Trade - Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.

Source: https://congthuong.vn/gia-xang-dau-hom-ngay-632025-xang-dau-dong-loat-giam-sau-377059.html