Gasoline prices near 5-month bottom
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Gasoline prices in Vietnam continued their decline on Thursday and are now at the lowest since Jan. 11.
The popular fuel RON95 dropped 2.40% from a week ago to VND21,970 ($0.86) per liter.
It has been on a decline since mid-April, falling 12.9% in four weeks.
Diesel fell by 1.62% to VND19,420.
Regulators said that prices fluctuated in the last seven days due to rising supply in the U.S. and expectations of an increase in production in OPEC+ crude oil in the fourth quarter while the Russia-Ukraine military conflict continued.
Globally gasoline prices fell 3-4.3% and oils dropped 1.7-2.2%.
Questions & Answers
Q.What is the current price of RON95 fuel per litre?
What is the current price of RON95 fuel per litre?
RON95 fuel is currently priced at VND21,970 ($0.86) per litre. This represents a 2.40% drop from the price recorded a week ago.
Q.What factors are contributing to the recent fall in fuel prices?
What factors are contributing to the recent fall in fuel prices?
Regulators stated that rising supply in the U.S. And expected increases in OPEC+ crude oil production in the fourth quarter are causing prices to fluctuate downwards. The ongoing Russia-Ukraine conflict also plays a role.
Q.How much have global gasoline and oil prices fallen recently?
How much have global gasoline and oil prices fallen recently?
Globally, gasoline prices have fallen between 3% and 4.3%. Oil prices have seen a decline of 1.7% to 2.2% during the same period.
Q.When was the last time gasoline prices were this low in Vietnam?
When was the last time gasoline prices were this low in Vietnam?
Gasoline prices in Vietnam are currently at their lowest point since January 11th. They have been on a continuous decline since mid-April.
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