Recent Surge in Gasoline Prices

The cost of the widely used fuel RON95 has seen an increase of 0.97%, reaching VND20,740 (approximately US$0.81) per liter. This adjustment is part of a broader trend affecting various fuel types across the market.

Impact on Different Fuel Types

Biofuel E5 RON92 wasn't left untouched, with its prices climbing by 1.21% to VND20,050. Similarly, diesel experienced a 0.64% hike, bringing its price to VND18,750.

Factors Influencing the Price Adjustments

Market regulators have pointed to several key factors driving these changes. A notable decrease in U.S. crude oil inventories, the World Bank's optimistic revision of China's 2025 economic growth forecast, and the ongoing military tensions between Russia and Ukraine are among the primary contributors to the current market dynamics.

In the past week, RON95 prices have surged by 1.1-1.2%, with oils not far behind, marking an increase of 0.8-1%. Currently, RON95 is trading at $84.6 per barrel, while diesel stands at $89.5.