Fuel Frenzy: Vietnam’s Gasoline and Diesel Prices Tumble Amid Global Petroleum Market Fluctuations
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On Thursday, Vietnam saw a decrease in its petrol and diesel prices, following a surge in the previous week. The frequently-used fuel RON95 saw a 0.15% drop in price, falling to VND20,540 (US$0.78) per litre from its price the preceding Thursday.
Fuel Price Declines
Additionally, Biofuel E5 RON92, another widely used fuel in Vietnam, experienced a 0.20% price decrease, bringing its price down to VND19,800. Diesel, another key fuel type, mirrored this trend with a 0.20% price drop, taking its price to VND19,820.
Global Influence on Fuel Prices
The global petroleum market, within the last week, was influenced by several factors which had an impact on Vietnam’s fuel prices. The Ministry of Industry and Trade cited the OPEC+ agreement to marginally enhance oil production in December, coupled with the reopening of the U.S. government, as major influences.
RON95’s global price fell by 0.3%, landing at $82.4 per barrel. Diesel, too, followed suit and saw a 0.3% dip to $93.35 per barrel.
Questions & Answers
Q.What was the percentage drop in RON95’s price?
What was the percentage drop in RON95’s price?
The price of RON95 fell by 0.15% from the previous week.
Q.What caused the global petroleum market to be influenced in the past week?
What caused the global petroleum market to be influenced in the past week?
The global petroleum market was affected by several factors including OPEC+’s decision to slightly increase oil production in December and the reopening of the U.S. government.
Q.What was the new price for Diesel?
What was the new price for Diesel?
Diesel’s new price was VND19,820, marking a 0.20% drop.