Retail News CRM

Tag: Gasoline

  • Gasoline prices return to 4-month low

    Gasoline prices return to 4-month low

    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.

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  • Gasoline prices fall

    Gasoline prices fall

    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%.

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  • Gasoline prices soar

    Gasoline prices soar

    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.

  • Gasoline prices slightly rise

    Gasoline prices slightly rise

    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.

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  • Gasoline prices dive to seven-month low

    Gasoline prices dive to seven-month low

    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.

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  • Gasoline price falls third time in a row

    Gasoline price falls third time in a row

    On Thursday, prices of the popular gasoline RON95 dropped for the third time this month while diesel slid to a four-month low.

    RON95 fell 0.13% to VND22,990 ($0.95) per liter, while biofuel E5 RON92 rose 0.46% to VND21,790.

    This was RON95’s third straight decline this month.

    Diesel declined for the fourth time in a row by 0.44% to VND20,190, lowest since Jul. 21.

    Global oil price was little changed on Thursday as investors remained cautious ahead of expected production cuts by the OPEC+ group, and as weaker-than-expected Chinese factory data underscored slowing growth in the world’s second largest economy.

    Since last Thursday RON92 has risen 0.72% to $91.75 per barrel while RON95 dropped 0.16% to $97.11. Diesel fell 0.5% to $101.94.

  • Gasoline prices soar to new heights in 2023

    Gasoline prices soar to new heights in 2023

    Gasoline prices on Thursday rose to another new peak this year while diesel prices continued to climb.

    The popular gasoline RON95 went up 3.5% to VND25,740 ($1.06) per liter. This was its seventh increase in the last two months.

    RON95 has risen by around 10% since the beginning of the year.

    Biofuel RON92 rose 3.07% to VND24,190.

    Diesel went up 2.34% VND23,590.

    Authorities said that global prices have been rising in the last 10 days due to increasing demand as OPEC+ countries limited their supply.

    RON92 went up 4.7% to $107.95 per barrel, while RON95 rose 4.6% to $114.02. Oils increased by 1.8%-3.4% per barrel.

  • Gasoline prices up in 5th straight time

    Gasoline prices up in 5th straight time

    Gas prices went up for the fifth time in a row on Monday, having increased non-stop since early July.

    The popular gasoline RON95 was 2.54% higher at VND24,600 per liter. Biofuel E5 RON92 rose 2.23% to VND23,330.

    Diesel fell for the first time in more than three months, dropping 1.79% to VND17,980.

    According to the Ministry of Industry and Trade and the Ministry of Finance, China used its oil reserves to prevent OPEC+ countries from reducing their supply.

    RON92 was 3.14% more expensive at $102.76 per barrel.

    But diesel dropped 0.3% to $116.72 per barrel.

  • Gasoline prices rise

    Gasoline prices rise

    Except for E5 RON 92, gasoline and diesel prices have risen by VND70-660 per liter starting 3 p.m. Tuesday.

    The price of the widely used RON95 went up 0.33% to VND21,490 (91 cents) per liter. Biofuel E5 RON92 decreased by VND60 (0.29%) to VND20,410.

    Diesel had a VND450 (2.48%) rise to VND18,610.

    Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and continued hopes for higher demand in the developing world in the second half of 2023.

    Supply cuts by top exporters Saudi Arabia and Russia set for August helped to lift the benchmark prices, which were also supported as the U.S. dollar fell to a two-month low.

  • Gasoline prices drop to near four-month low

    Gasoline prices drop to near four-month low

    Gasoline prices on Thursday fell by more than 5% to the lowest since mid-January.

    Starting from 3 p.m. RON95 declined by 5.5% to VND22,320 per liter. Biofuel E5 RON92 also dropped by 5.5% to VND21,430.

    Diesel fell 5.9% to VND18,250, a new low since the beginning of the year.

    The Ministry of Industry and Trade and Ministry of Finance, which manage fuel prices, said that fuel prices globally have been plunging in the last 15 days due to fear of economic recession.

    RON95 fuel fell by 8.4% to $93.33 per barrel, while RON92 dropped 8.7% to $89.39.

    Diesel declined by 7.2% to $90.91.

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  • Gasoline prices down

    Gasoline prices down

    The price of Vietnam’s best-selling gasoline RON 95-III fell VND610 to VND23,630 ($1) per liter on Friday, while E5 RON 92 prices dropped VND490 to VND22,680.

    Meanwhile, the price of diesel fell by VND750 to VND19,390.

    Kerosene prices dropped VND250 to VND19,480, while mazut oil prices rose VND650 to VND15,840.

    The Ministry of Industry and Trade and the Ministry of Finance, which oversee the adjusting fuel retail prices, said that global crude oil prices have fallen for the past 10 days on fears of looming Federal Reserve interest rate hikes and OPEC+ oil output cut.

  • Gasoline prices increase

    Gasoline prices increase

    Gasoline prices rose slightly on Monday after falling to their lowest in 2 months on March 21.

    RON95 went up 0.39% to VND23,120 ($0.98) per liter.

    E5 RON92 increased by 0.28% to VND22,080.

    Diesel stopped its downward trend with a 0.67% rise to VND19,430.

    Globally, the average price of fuel products increased by 0.6-2.4%.

    Per-barrel price of RON 92 was up by 1.7% to $93.82, while that of RON 95 went up 1.8% to $98.29.

    Diesel cost rose 0.6% to $96.89 per barrel.

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  • Vietnam struggles to auction outdated gasoline

    Vietnam struggles to auction outdated gasoline

    Vietnam is finding it difficult to sell 102 million liters of RON92, an out-of-date gasoline the country wants to replace with more RON95 in the national reserve.

    To obtain more space and money for today’s most common and popular gasoline RON95, Vietnam needs to sell its reserves of the cheaper RON92 fuel, which was supposed to have been auctioned off last year.

    But Vietnamese ministries could not agree on a set starting price for the fuel so the auction never happened.

    RON 92 is a low-power fuel that is now mainly used to make biofuel.

    But the Ministry of Industry and Trade has reported that selling such a large volume of the gasoline is difficult because few local wholesalers currently need biofuel.

    Vietnam has not had to release fuels from the national reserve for emergencies in five years, but the Ministry of Industry has announced that bulking up the nation’s scant resources is a must.

    According to the National Reserve Law, petroleum is a strategic reserve commodity.

    But the reality on the ground is that Vietnam’s average total reserves over the last five years has been just over 370,000 cubic meters a year, equivalent to only 6.5 days of consumption and 9 days of net imports.

    Vietnam’s national petroleum reserves generally total from around one-third to one-eighth of other countries’.

  • Gasoline prices rise

    Gasoline prices rise

    Gasoline prices went up Tuesday for the second time this year.

    The price of the popular fuel RON95 went up 1.6% to VND22,150 ($0.94) per liter.

    E5 RON92 price also rose 1.6% to VND21,350.

    Diesel price stayed unchanged at VND22,150.

    This is the second fuel hike in three days.

    The government raised gasoline prices up more than 5% on January 1 as a VND2,000 environmental tax was applied.

    The tax has been lowered by half from the pre-pandemic level as the National Assembly wants to boost economic recovery.

  • Gasoline prices dip to 18-month low

    Gasoline prices dip to 18-month low

    Gasoline prices plunged to the lowest since June 2021, with RON95 dropping 2.36% to VND20,700 ($0.87) per liter.

    E5 RON92 fell 1.82% to VND19,970. Diesel dropped 0.32% to VND21,600. Gasoline prices have fallen four times in a row since mid-November.

    They are now 37% lower than the previous peak on June 21.

    Vietnam fuel prices are adjusted on the first, 11th and 21st of each month.

    Ho Chi Minh City has proposed that prices are adjusted every three to five days instead of the current 10 to resolve the recent supply issues.