Fuel prices plunge to 4-year low
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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.
Questions & Answers
Q.What was the previous price of RON95 before this recent fall?
What was the previous price of RON95 before this recent fall?
The article does not state the exact previous price of RON95. It only mentions that the new price of VND19,200 is 8.2% lower than before, and the lowest since May 2021.
Q.When were fuel prices last at this low level in Vietnam?
When were fuel prices last at this low level in Vietnam?
Fuel prices in Vietnam were last at this low level in May 2021. The popular fuel RON95 is now at its lowest rate since that time.
Q.What specific factors contributed to the decline in global oil prices?
What specific factors contributed to the decline in global oil prices?
Regulators identified a rise in the U.S.' crude oil inventories and the U.S.' announcement of a 10% tariff on all imports as the factors influencing the global oil market over the past seven days.
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