Gasoline and diesel prices in Vietnam both saw increases on Thursday afternoon, marking the second consecutive rise in two weeks. The popular RON95 gasoline price went up by 1.69%, reaching VND 20,420 (US$0.80) per liter.
Biofuel E5 RON92 also saw a 1.73% increase, reaching VND 20,030 per liter. Meanwhile, diesel prices rose by 2.26%, reaching VND 18,520.
Regulators explained that last week’s price hike was partly due to a drop in U.S. crude oil and gasoline inventories. Additional price pressures came from U.S. plans to impose taxes on goods imported from countries purchasing oil from Venezuela.
OPEC+’s ongoing plan to increase oil production also played a role in the price increase.
Over the past week, gasoline prices have risen by 1.9% to 2.1%, while oil prices have gone up by 1.9% to 2.5%. As of now, the price of RON95 is $82.3 per barrel, and diesel is priced at $85.8 per barrel.
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