Gasoline prices fall after four consecutive increases.

Gasoline prices decreased from the afternoon of July 11. Photo: VNA

Specifically, following adjustments by the Ministry of Industry and Trade and the Ministry of Finance, E5RON92 gasoline decreased by 179 VND/liter, to no more than 22,282 VND/liter; RON95-III gasoline decreased by 258 VND/liter, to no more than 23,294 VND/liter. This is the first gasoline price reduction after four consecutive increases.

Prices for various types of fuel were adjusted with alternating increases and decreases: Diesel 0.05S not exceeding 20,834 VND/liter (down 342 VND/liter compared to the current base price); kerosene not exceeding 21,038 VND/liter (down 178 VND/liter); and Mazut 180CST 3.5S not exceeding 17,784 VND/kg (up 250 VND/kg).

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

According to representatives from the Ministry of Industry and Trade, the global oil market during this price adjustment period (July 4th - 10th) was influenced by factors such as: hopes for a ceasefire agreement in Gaza; less-than-expected impact from hurricanes in the Gulf of Mexico; increased fuel demand in the US during the peak summer travel season; and the ongoing military conflict between Russia and Ukraine, with Ukraine continuing attacks on Russian oil refineries and storage facilities. These factors have caused global oil prices to fluctuate downwards in recent days.

The average price of refined petroleum products in the world between the price adjustment period of July 4th and the adjustment period of July 11th was: 93.344 USD/barrel for RON92 gasoline used to blend E5RON92 gasoline (down 0.034 USD/barrel, equivalent to a 0.04% decrease); 97.764 USD/barrel for RON95 gasoline (down 0.396 USD/barrel, equivalent to a 0.4% decrease); 100.774 USD/barrel for kerosene (down 0.974 USD/barrel, equivalent to a 0.96% decrease); 101.214 USD/barrel for 0.05S diesel oil (down 1.444 USD/barrel, equivalent to a 1.41% decrease); 520.744 USD/ton for 180CST 3.5S fuel oil (up 7.982 USD/ton, equivalent to a 1.56% increase).

Source: https://baoquangnam.vn/xang-giam-gia-sau-4-lan-tang-lien-tiep-3137773.html