As of Thursday, gasoline prices in Vietnam have significantly dropped, hitting a record low since February 2021. The highly preferred fuel, RON95, witnessed a decrease of about 1.85%, bringing its price down to VND18,560 (US$0.71) per liter.
Likewise, Biofuel RON92 experienced a price reduction of around 1.08%, now costing VND18,230 per liter. Diesel fuel also saw a 1.10% decrease, lowering its price to VND17,060 per liter.
According to the Ministry of Industry and Trade, these changes in the domestic petroleum market are a result of several influential factors in the global petroleum market. Notably, the decision by OPEC+ to maintain oil production output stable in the first quarter had a significant impact.
In terms of international costs, the average price of RON95 fell by 2.4% to $72.2 per barrel. Diesel prices also fell, but by a slightly lesser margin of 1.3%, bringing the cost down to $78.85 per barrel.
What was the percentage decrease in the price of RON95 fuel in Vietnam recently?
The price of RON95 fuel in Vietnam recently fell by about 1.85%.
Which body made the decision to maintain oil production output stable for the first quarter and how did it impact the prices?
OPEC+ decided to keep the oil production output stable for the first quarter. This decision significantly influenced the reduction in the domestic and global petroleum prices.
What was the impact on the international costs of RON95 and diesel?
Internationally, the average price of RON95 fell by 2.4% to $72.2 per barrel, while diesel prices decreased by 1.3% to $78.85 per barrel.
