Gasoline price rises to six-week high
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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.
Questions & Answers
Q.When were gasoline prices last this high?
When were gasoline prices last this high?
Gasoline prices are currently at their highest point since early December. RON95, specifically, reached its highest price since December 7th.
Q.What factors are contributing to the global rise in gasoline prices?
What factors are contributing to the global rise in gasoline prices?
Globally, gasoline prices are rising due to escalating tensions in the Middle East and a slower-than-expected recovery in China’s economy. Red Sea conflicts and a surging U.S. Dollar are also contributing.
Q.Which government bodies control gasoline prices?
Which government bodies control gasoline prices?
The Ministry of Industry and Trade along with the Ministry of Finance are the government bodies that control gasoline prices.
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