Fuel prices plunge to 4-year low

Vietnam gasoline price plummeted to its lowest in four years Thursday afternoon.

The popular fuel RON95 fell 8.2% to VND19,200 (US$0.74) per liter, the lowest rate since May 2021.

Biofuel E5 RON92 declined by 7.3% to VND18,880.

Diesel dropped 6.7% to VND17,240.

Regulators said that the global oil market over the past seven days has been influenced by several factors, including a rise in the U.S.’ crude oil inventories and its announcement of a 10% tariff on all imports.

These factors pushed fuel prices down, with RON95 decreasing by 11.2% to $75.3 per barrel. Diesel went down by roughly 9% to $79.5.