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Tag: gazoline

  • Diesel hits 6-week low, gasoline steadies

    Diesel hits 6-week low, gasoline steadies

    Vietnam’s gasoline prices inched up while diesel dropped to a six-week low Thursday afternoon.

    The popular fuel RON95 gained 0.15% to VND20,590 (US$0.81) per liter.

    Diesel dropped 0.71% to VND18,250.

    Regulators said that fuel prices in the last seven days were affected by rising geopolitical tension in the Middle East, ongoing conflict between Russia and Ukraine, and OPEC+’s reduced oil demand growth forecast for 2025.

    Gasolines went up 0.2% while oils fell 0.8-4.3% in the period. RON95 is now at $84.1 per barrel and diesel at $86.9.

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  • Gasoline, diesel prices drop

    Gasoline, diesel prices drop

    Vietnam gasoline and diesel price both declined Thursday afternoon.

    The popular fuel RON95 fell 0.39% to VND20,520 (US$0.81) per liter Thursday morning.

    Biofuel E5 RON92 went down by 0.57% to VND19,340 per liter.

    Diesel dropped 0.38% to VND18,500.

    Regulators said that fuel prices in the last seven days were affected by China’s economic stimulus plans failing to meet investors’ expectations, and ongoing tensions in the Middle East and between Russia and Ukraine.

    Gasolines fell by 0.6-0.9% in the period and oils went down 0.5%. RON92 is now at $83.6 per barrel and diesel $88.2.

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  • Gasoline prices surge

    Gasoline prices surge

    Gasoline prices increased sharply Thursday afternoon after inching down last week.

    The popular fuel RON95 rose 6.36% to VND21,060 (US$0.85) per liter.

    Biofuel E5 RON92 increased by 5.25% to VND19,840.

    Regulators said that prices in the last seven days rose as a hurricane made landfall in the U.S., resulting in a spike in demand in that country, and concerns over the military conflict in the Middle East.

    In the last seven days, fuel prices have increased by 7-7.9% and oils have gained 5.2-7.4%. RON95 is now at $88.2 per barrel and diesel at $90.

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  • Gasoline prices remain at 15-month low

    Gasoline prices remain at 15-month low

    Gasoline prices in Vietnam continued to fall Thursday and remained at its lowest level since May last year.

    Diesel fell 1.60% to VND18,470.

    Regulators said that prices fluctuated in the last seven days due to new developments in the Middle East crisis and declining crude oil inventory in the U.S.

    Gasolines fell 0.3-0.9% and oils dropped 0.2-1.6%. RON95 is now at $87.7 per barrel and diesel $89.1.

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  • Gasoline prices tiptoe up

    Gasoline prices tiptoe up

    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 near 5-month bottom

    Gasoline prices near 5-month bottom

    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%.

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  • Gasoline prices hit 6-month high

    Gasoline prices hit 6-month high

    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%.

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  • Gasoline price rises to six-week high

    Gasoline price rises to six-week high

    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.

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  • Gasoline, diesel prices fall

    Gasoline, diesel prices fall

    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 go up

    Gasoline prices go up

    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 prices down after 2 months

    Gasoline prices down after 2 months

    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.

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  • Gasoline prices hit 12-month high

    Gasoline prices hit 12-month high

    Gasoline prices continued to rise on Tuesday and reached the highest since August last year.

    The popular RON95 was 1.10% higher at VND24,870 per liter.

    Biofuel RON92 price went up 0.60% to VND23,470.

    Diesel price also increased by 1.30% to VND22,640 per liter.

    Globally RON92 price went up 0.50% in the last two weeks to $103.25 per barrel, while RON95 rose 0.70% to $109.23, as Russia intended to cut its oil exports.

    Diesel was nearly 2% more expensive in the period at $118.82 per barrel.

  • Gasoline prices drop

    Gasoline prices drop

    Gasoline prices dropped Tuesday after two hikes, while diesel fell to this year’s new low. RON95 gasoline was sold at VND23,440 ($0.99) per liter starting 3 p.m., down 1.35% from a week ago.

    Biofuel E5 RON92’s price went down 1.23% to VND22,540. Diesel dropped 3.2% to VND28,860, its second decline in a row.

    The Ministry of Industry and Trade and Ministry of Finance, which are in charge of adjusting retail fuel prices, said that average diesel prices in the last 10 days plunged 5% globally, while gasoline prices only dipped marginally.

    They added that the costs of delivering fuel from foreign sources to Vietnam and refineries to ports were factored into retail prices Tuesday.

    Many retailers had recently demanded that the government should fix a minimum commission of 5-6% of the retail price of petroleum products so that they do not have to sell at a loss.

    But the Ministry of Planning and Investment opposed this when recently asked for its opinion on a bill on fuel management of the Ministry of Industry and Trade.

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  • Fuel price cuts fail to drag prices down

    Fuel price cuts fail to drag prices down

    Gasoline prices may have fallen by 10 percent on Monday, but to many people’s chagrin this has not had a knock-on effect on other prices.

    Three days after fuel prices fell, Hanh, owner of a chicken pho restaurant in Hanoi, has yet to adjust prices downward. A bowl of pho still costs VND40,000-60,000 ($1.71-2.56), up VND5,000-10,000 from June.

    He blamed it on the high costs of other items, especially chicken. “A kilogram of chicken still costs me VND110,000-120,000, and so I cannot lower my prices.”

    In HCMC too, food stalls have yet to cut prices after having raised them earlier to cope with higher fuel and other costs.

    Gasoline prices have only fallen by 10 percent after a 35 per cent hike since mid-April, eateries pointed out, adding they therefore have to wait for further fuel price cuts before reducing their prices.

    Prices of fresh foods at traditional markets are also unchanged. Hoa, a vegetable seller in HCMC’s Binh Thanh District, said prices are unlikely to fall since heavy rains have affected supply.

    A butcher in HCMC’s Go Vap District, also called Hoa, said he could not cut pork prices further since he is already selling at cost.

    “Prices of pig of the hoof will probably increase in the next few days, and so retail pork prices are unlikely to fall. Animal feed costs have risen significantly in the first half of this year.”

    Nguyen, a butcher in a market in Hanoi, said, “Due to bad weather, low demand and higher costs, I suffer losses most of the time.”

    Gasoline only accounts for 20 percent of fresh food prices, while labor input costs are rising, Hoang, a wholesaler in HCMC, said.

    Truong Chi Thien, director of egg producer Vinh Thanh Dat, said the costs of animal feed, labor and packaging have risen by 20-40 percent from last year.

    “Egg prices will only decline if input costs fall.”

    Dinh Trong Thinh, a lecturer at the Academy of Finance, said there would be a lag between changes in gasoline prices and those of other goods.

    Despite two recent cuts, gasoline prices remain at nearly VND30,000 a liter, up 25 percent from last year, and so it is understandable that producers, suppliers and retailers have yet to cut prices, he added.

  • India’s Imports Of Cheap Russian Crude Surge Since Ukraine Invasion

    India’s Imports Of Cheap Russian Crude Surge Since Ukraine Invasion

    India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of 2021. The volumes of India’s seaborne oil imports from Russia exclude CPC Blend oil, which is also exported via Russia’s Black Sea port, but mostly supplied by Kazakhstan’s subsidiaries of western countries as transit volumes.

    India’s oil imports from Russia have been rising since February, as Asia’s third largest economy and the world’s third biggest oil importer, turned to deeply discounted Russian oil, mostly Urals crude, to cut its imports bill.

    The country received more than 24 million barrels of Russian crude this month, up from 7.2 million barrels in April and about 3 million in March, and is set to receive about 28 million barrels in June, according to Refinitiv Eikon oil flows.

    Surging energy imports helped push India’s total goods imports from Russia between Feb. 24 and May 26 to $6.4 billion, compared with $1.99 billion in the same period last year, according to government figures seen by Reuters.

    India’s exports to Russia, however, fell nearly 50% to $377.07 million over that period, as its government is yet to set up a formal payment mechanism.

    As the West responded to the invasion with a barrage of sanctions, India has come under fire for its continued purchases of Russian energy. New Delhi has brushed off the criticism, saying those imports made only a fraction of the country’s overall needs and has said it will keep buying “cheap” Russian oil, arguing a sudden stop would drive up costs for its consumers.

    Russian and Indian energy companies have also been discussing term supply agreements and possible acquisitions of stakes in Russian oil and gas projects.

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