Gasoline price plunges to 5-month low
Vietnam gasoline prices on Thursday fell to the lowest in five months as global rates decline.
The Ministry of Finance and Ministry of Industry and Trade adjusted RON95 prices down 12.1 percent to VND26,070 ($1.11) per liter.
This means RON95 is now 20.7 percent lower than this year’s peak on June 21.
E5 RON92 gasoline prices dropped 9.8 percent to VND25,070, down 19.9 percent from this year’s peak. The government also brought diesel prices down 7 percent to VND24,850 per liter.
Global oil prices fell Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline consumption during the peak summer driving season.
Brent crude futures dropped 33 cents, or 0.3 percent, to $106.59.