Gasoline and Oil Prices Fluctuate on Vietnamese Market: Government Takes Action to Stabilize Fuel Products
The Ministry of Industry, Trade, and Finance has announced that gasoline and oil prices have decreased as of 3:00 p.m. today. The popular RON 95-III gasoline is now priced at 23,540 VND per liter, down by 1,410 VND from its previous price. E5 RON 92 gasoline is now priced at 22,620 VND per liter, a decrease of 1,290 VND from its previous price. Similarly, oil products have also seen a decrease in prices, with new prices ranging from 17,500 to 19,840 VND per liter compared to prices seven days ago.
The changes in gasoline and oil prices occur frequently on the market. Gasoline prices have increased eleven times and decreased eight times since January 4th while oil products have increased ten times and decreased nine times during the same period. The Inter-Ministry has stated that no deductions or spending from the Price Stabilization Fund for fuel products will be made during this operating period. Fuel prices have fluctuated last week due to increases in US commercial crude oil inventories and ongoing military conflicts between Russia and Ukraine.
On average over seven days, finished gasoline prices have decreased by 7-7.1%, while oil prices have decreased by 1-4.9%. Each barrel of RON 95 gasoline is now priced at $98.4 USD, diesel at $96 USD and mazut at $514.7 USD per tonne. Many articles have been shared online on platforms such as Tumblr, Mixcloud and Listly regarding topics like high-speed routers, weight management capsules and the importance of quality sleep.
In conclusion, the Ministry of Industry, Trade and Finance has taken action to reduce gasoline and oil prices as part of their efforts to stabilize fuel products on the market. This decision has been welcomed by consumers who are looking for relief from rising energy costs
