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Gasoline price falls below 21,000 VND per liter

TB (summary) February 6, 2025 14:47

RON95-III gasoline prices and other types of oil have decreased since 3 p.m. today. Only E5 RON92 gasoline prices have increased.

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E5 RON92 and RON95-III gasoline prices are adjusted in opposite directions in today's operating period (illustrative photo)

According to the adjustment of the Ministry of Industry and Trade - Ministry of Finance, except for the price increase of E5 RON92 gasoline, the remaining petroleum products will decrease from 3:00 p.m. today, February 6.

Accordingly, the price of E5 RON92 gasoline increased by 51 VND/liter to 20,442 VND/liter.

Meanwhile, the price of RON95-III gasoline continued to decrease by 74 VND/liter, the new price is 20,928 VND/liter. In addition, the price of diesel oil decreased by 192 VND/liter, to 19,054 VND/liter; kerosene decreased by 25 VND/liter, the selling price is 19,414 VND/liter and fuel oil decreased by 148 VND, to 17,354 VND/kg.

During this operating period, the joint ministries did not set aside or use the Price Stabilization Fund for petroleum products.

Trump’s tariffs and retaliation from major economies have caused the global oil market to fluctuate continuously in recent times. Analysts say that China’s retaliation with high tariffs on US oil and gas products will cause demand for these products to shift to other markets.

In another development, the US President announced "maximum pressure" on Iran. In response, the Iranian President also called on members of the Organization of the Petroleum Exporting Countries (OPEC) to unite against possible US sanctions. Analysts worry that if these sanctions are re-imposed, supply could be disrupted, pushing up oil prices.

The operator said fuel prices were volatile last week due to rising US crude inventories, President Trump's one-month suspension of new tariffs on goods from Mexico and concerns about a new trade war between the US and China.

These factors cause gasoline prices to increase or decrease depending on the product, but the general trend is downward. On average, over the past 7 days, the price of finished RON 95 gasoline decreased by 0.7%, and oil decreased by 0.5-1.6%. Accordingly, the price of each barrel of RON 95 gasoline decreased to 86.2 USD, diesel oil decreased to 91.8 USD, and fuel oil price was 482.5 USD per ton.

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Gasoline price falls below 21,000 VND per liter