During the operating period on May 9, the Ministry of Industry and Trade - Ministry of Finance decided not to set aside or use the Petroleum Price Stabilization Fund for all petroleum products.

Accordingly, E5 RON 92 gasoline decreased by VND 1,290/liter to VND 22,620/liter, RON 95 III gasoline decreased by VND 1,410/liter to the new price of VND 23,540/liter.

Gasoline prices have been reduced from 3pm on May 9.

Diesel, kerosene and fuel oil also decreased by VND760, VND840 and VND160, respectively, to new prices of VND19,850/liter, VND19,700/liter and VND17,500/kg.

The decision to adjust the price of gasoline and oil was made in the context that the world oil market from May 2-8 was affected by factors such as: increased US commercial crude oil inventories, a stronger USD putting pressure on global oil demand, the ongoing military conflict between Russia and Ukraine, hopes for a ceasefire in the Gaza Strip between Israel and Hamas... These factors caused world oil and oil prices in recent days to increase and decrease depending on each commodity, but the main trend is downward.

Thu An