Gasoline and oil prices have both decreased since 3pm today, following adjustments by the Ministry of Industry and Trade and the Ministry of Finance.
The price of RON 95-III gasoline (the popular type on the market) decreased by VND290, down to VND22,880 per liter. Meanwhile, E5 RON 92 is at VND21,900 per liter, down VND270.
Oil products have new prices of 17,170-20,320 VND per liter. Compared to 7 days ago, diesel has decreased by 310 VND, down to 20,190 VND per liter. Kerosene is 340 VND cheaper, and fuel oil is down to 17,170 VND per kilogram.
Gasoline and oil prices change as follows:
| Item | New price | Change |
| Gasoline RON 95-III | 22,880 | - 290 |
| E5 RON 92 gasoline | 21,900 | - 270 |
| Diesel | 20,190 | - 310 |
| Kerosene | 20,320 | - 340 |
| Fuel oil | 17,170 | - 440 |
Unit: VND/liter or kg, depending on type
Thus, since the beginning of the year, gasoline prices have increased 16 times and decreased 13 times. Oil prices have increased 14 times and decreased 15 times. Since the beginning of the year, each liter of RON 95 gasoline has increased by VND970 per liter, while diesel has increased by VND830.
Similar to the previous operating period, today the joint ministry did not draw or spend from the Price Stabilization Fund for fuel products. This is the 40th period, starting from October 2023, that the operator has not used up. Price stabilization fund. As of the end of 2023, this fund had a surplus of more than VND6,655 billion, according to data from the Ministry of Finance. The Vietnam National Petroleum Group (Petrolimex) alone - the unit that accounts for nearly half of the country's market share - had a surplus of about VND3,087 billion in this fund as of July 18.
The operator said fuel prices fluctuated last week due to expectations of a ceasefire agreement in the Middle East between Israel and Hamas, a rising US dollar, and lower Chinese oil demand compared to last year.
On average, over the past 7 days, finished gasoline prices have decreased by about 1.6-1.7%, and oil by 1.8-3%. Accordingly, each barrel of RON 95 gasoline is down to 95.6 USD, diesel is at 97.5 USD, and fuel oil is down to 498.9 USD per ton.
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