Gasoline prices rise
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Except for E5 RON 92, gasoline and diesel prices have risen by VND70-660 per liter starting 3 p.m. Tuesday.
The price of the widely used RON95 went up 0.33% to VND21,490 (91 cents) per liter. Biofuel E5 RON92 decreased by VND60 (0.29%) to VND20,410.
Diesel had a VND450 (2.48%) rise to VND18,610.
Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and continued hopes for higher demand in the developing world in the second half of 2023.
Supply cuts by top exporters Saudi Arabia and Russia set for August helped to lift the benchmark prices, which were also supported as the U.S. dollar fell to a two-month low.
Questions & Answers
Q.Which gasoline type experienced a price reduction?
Which gasoline type experienced a price reduction?
Biofuel E5 RON92 was the only gasoline type to see a decrease, dropping by VND60 (0.29%) to VND20,410 per liter. All other gasoline and diesel prices rose from Tuesday afternoon.
Q.What is the new price for RON95 gasoline?
What is the new price for RON95 gasoline?
The price for RON95 gasoline increased by 0.33% to VND21,490 per liter. This is equivalent to 91 cents, making it one of the more expensive fuel options mentioned.
Q.Why are oil prices generally increasing?
Why are oil prices generally increasing?
Oil prices are increasing due to supply cuts implemented by major global exporters like Saudi Arabia and Russia. Also, expectations of higher demand from developing countries in late 2023 are contributing to the rise.
Q.When did these new fuel prices come into effect?
When did these new fuel prices come into effect?
The new gasoline and diesel prices, including the rises and the single reduction, became effective starting at 3 p.m. On Tuesday. This change impacts most fuel types except E5 RON 92.
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