Gasoline prices decline
Vietnam gasoline prices on Thursday fell slightly compared to seven days ago.
Gasoline prices have declined in Vietnam, according to the latest data from the Ministry of Industry and Trade and the Ministry of Finance. The E10 RON95 grade saw a 0.94% drop to VND22,110 (US$0.85) per liter, while E5 RON92 decreased by 2.26% to VND21,230. Diesel prices also experienced a 1.13% reduction to VND27,230.
The global petroleum market has been affected by recent developments, including negotiations for reopening the Strait of Hormuz and lower forecasts for oil demand growth from OPEC and the International Energy Agency. The barrel price for RON95 gasoline dropped nearly 2% to $111.7, and diesel prices declined 1.1% to $151 per barrel.
Vietnamese gasoline prices remain significantly lower than those in neighboring countries. Cambodia and Thailand have prices around VND26,800-VND28,400 per liter, while China's prices exceed VND32,000 per liter, and Laos has prices over VND44,000 per liter. The two ministries noted that following the latest price adjustment, Vietnamese gasoline prices are still about VND4,600-VND22,000 per liter cheaper than neighboring countries.
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