Gasoline prices rose for the second week in a row Thursday afternoon.
The popular fuel RON05 went up 1.03% to VND22,460 ($0.88) per liter. Biofuel E5 RON92 rose 0.89% to VND21,500.
Diesel increased by 3.66%.
Globally fuel prices were affected by rising tension in the Middle East and Ukraine’s repeated attacks on Russia’s oil storage, regulators said.
Gasoline added 1.3% while oil increased by 2.4-4.3%. RON95 is now at $92.7 per barrel and oil $98.9.
Gasoline prices rose slightly Thursday afternoon after hitting the lowest in nearly five months last week.
The popular fuel RON95 went up 1.18% to VND22,230 per liter. Biofuel E5 RON92 rose 0.80% to VND21,310.
Diesel increased by 1.13% to VND19,640.
Regulators said that gasoline prices fluctuated last week after the U.S. Energy Information Administration lifted its growth forecast on global fuel demand while the military conflict between Russia and Ukraine continued.
Gasoline prices rose 1.2-1.5% while oils went up 1.4-1.9%.
Gasoline prices in Vietnam continued their decline on Thursday and are now at the lowest since Jan. 11.
The popular fuel RON95 dropped 2.40% from a week ago to VND21,970 ($0.86) per liter.
It has been on a decline since mid-April, falling 12.9% in four weeks.
Diesel fell by 1.62% to VND19,420.
Regulators said that prices fluctuated in the last seven days due to rising supply in the U.S. and expectations of an increase in production in OPEC+ crude oil in the fourth quarter while the Russia-Ukraine military conflict continued.
Globally gasoline prices fell 3-4.3% and oils dropped 1.7-2.2%.
Gasoline prices on Thursday afternoon plunged to the lowest since Jan. 18 after rising marginally last week.
The popular fuel RON95 fell 3.02% to VND22,510 ($0.88) per liter. Biofuel E5 RON92 declined by 2.33% to VND21,750.
Diesel dropped 0.45% to VND19,740, the lowest since Jan. 11.
Regulators said that prices fluctuated in the last seven days due to weakening U.S. dollar and concerns that the U.S. will keep its interest rate unchanged for a long time. OPEC+ is expected to maintain its policy to limit supply in the upcoming meeting in early June. Global gasoline prices fell 3.2-3.8% in the last seven days.
Gasoline prices on Thursday rose to the highest since early October while diesel dropped slightly.
The popular fuel RON95 went up 2.18% to VND24,810 ($1) per liter. Biofuel E5 RON92 gained 1.77% to VND23,620
Fuel prices fluctuated globally in the last seven days due to decline production at some Russian refineries and continuing tension in the Middle East, according to Vietnamese authorities.
Gasoline prices rose 2.2-2.5% while oils dropped 2-2.4%.
Gasoline and diesel prices dropped Thursday afternoon.
The popular fuel RON95 gasoline fell 1.55% from a week ago to VND23,550 ($0.95) per liter.
Biofuel E5 RON92 declined by 1.05% to VND22,510.
Diesel dropped 1.44% to VND20,470.
In the last seven days fuel prices swinged due to concerns that China would struggle to regain growth momentum, a rise in gold and cryptocurrency investment, and a reduction in OPEC production.
Globally gasoline prices dropped by 1.8-2.1% per barrel while oils dropped 1.1-1.9%.
Gasoline and diesel prices fell Thursday afternoon as global demand is forecast to fall this year.
The popular gasoline RON95 dropped 1.34% from a week ago to VND23,590 per liter.
Biofuel E5 RON92 fell 1.58% to VND22,470. Diesel declined by 2.11% to VND20,910.
RON95 fell 2% to $99.7 per barrel and diesel dropped 3% to $105.03.
Gasoline and diesel prices both rose Thursday afternoon as global rates increased during the last seven days.
The popular fuel RON95 went up 2.79% to VND23,910 ($0.98) per liter.
Biofuel E5 RON 95 gained 3.21%r to VND22,830.
Diesel rose 3.18% to VND21,360.
A decline in production at U.S. refineries also caused prices to go up by 2.5-4.3%, according to the Ministry of Industry and Trade and the Ministry of Finance.
RON95 increased by 3.5% to $101.8 per barrel. Diesel rose 3.6% to $108.15.
On Thursday, gasoline and diesel prices climbed for the second week, with gasoline being at the highest since early December.
The popular gasoline RON95 rose 2.51% to VND22,480 per liter, the highest since Dec. 7.
Diesel increased by 2.49% to VND20,190, the highest since Nov. 23.
Gasoline prices rose globally in the last seven days due to escalating tension in the Middle East and a slower-than-expected recovery in China’s economy. Red Sea conflicts and the surge of the U.S. dollar were also contributing factors, according to the Ministry of Industry and Trade and the Ministry of Finance, which control gasoline prices.
RON95 rose 2.7% to $101.43 per barrel, while diesel rose 2.4% to $100.84.
Gasoline and diesel prices rose marginally on Thursday afternoon.
The popular RON95 gasoline went up 0.09% from a week ago to VND21,930 ($0.90) per liter.
E5 RON92 rose 0.19% to VND21,040.
Fuel prices fluctuate globally in the last seven days due to supply shortage in Libya, rising tension in the Middle East, and a stronger-than-expected decline in crude oil supply in the U.S, according to the Ministry of Finance and the Ministry of Industry and Trade.
RON92 fell 0.4% to $87.14 per barrel, while RON95 gained 0.1% to $91.34. Diesel rose 1.7% to $98.5.
Gasoline prices Thursday dropped to the lowest since May 11 while diesel hit a five-month low.
The popular fuel RON95 fell 4.12% to VND21,400 per liter.
Biofuel E5 RON92 dropped 3.66% to VND20,510.
Diesel fell 3.65% to VND19,000.
Global fuel prices decreased in the past seven days due to concerns that military tensions in the Middle East would affect oil supply from this region, according to the Ministry of Industry and Trade and the Ministry of Finance.
In addition, the fact that countries reached a historic agreement to reduce fossil fuel consumption at the 2023 United Nations Climate Change Conference also caused prices to go down, they added.
RON92 fell 5% to $84.54 per barrel, while RON95 dropped 5.23% to $88.54.
Gasoline prices went down for the second time in a row Thursday, while diesel declined for the third straight time.
The popular gasoline RON95 fell 2.17% to VND23,020 ($0.95) per liter.
Diesel went down 2.87% to VND20,280.
Starting this week, the government will adjust retail fuel prices every Thursday instead of every 10 days as before.
Global fuel prices dropped slightly in the last ten days due to a decline in demand caused by economic recessions and rising U.S. crude oil inventory.
RON92 fell 2.9% to $91.09 per barrel, while RON95 dropped 2% to $97.26. Diesel declined 2.4% to $105.15.
Gasoline prices dropped slightly, while diesel slid to a three-month low Monday afternoon.
The popular fuel RON95 fell 1.63% to VND23,530 ($1), while biofuel E5 RON92 dropped 1.5% to VND22,270.
Diesel plunged 4.83% to VND20,880.
In the last 13 days fuel prices have fluctuated globally due to tightened supply after Russia and Saudi affirmed production cuts, the strengthening of the U.S. dollar, and the Middle East conflict.
RON92 fell 1.5% to $93.78 per barrel, while RON95 dropped 1.6% to $99.20. Diesel declined 3.6% to $105.29 per barrel.
Gasoline prices went up for the second time in over a week, while diesel prices dropped slightly.
The popular fuel RON95 went up 1.79% to VND23,920 per liter.
Biofuel E5 RON92 rose 2.08% to VND22,610.
Diesel dropped 2.46% to VND21,940.
Global prices have fluctuated in the last 10 days amid Middle East tension and the U.S. increasing oil supply.
RON92 went up 1.3% to $95.25 per barrel, while RON95 rose 1.9% to $100.8. Diesel dropped 2.65% to $111.8.
Gasoline and diesel prices declined in Vietnam Wednesday afternoon, following a similar trend globally.
The popular RON 95-III dropped 7.24% to VND23,040 ($0.94) per liter.
Biofuel E5 RON92 fell 6.8% to VND21,900 ($0,90).
Diesel decreased by 5% to VND22,410.
The average price of RON 92 dropped 1.5%, to $86.78 per barrel, while RON 95 fell 1.8%. to $91.59 per barrel. Diesel also declined by 0.5% to $92.16.