Recent Price Adjustments

The cost of RON95 gasoline has seen a significant increase, rising by 1.30% to VND21,010 (approximately US$0.83) per liter. Similarly, Biofuel E5 RON92 experienced a 1.89% hike, reaching VND20,430, while diesel prices climbed by 2.61% to VND19,240.

Factors Influencing the Market

Authorities have pointed out several factors contributing to the recent surge in fuel prices. These include the strengthening of the U.S. dollar, an increase in U.S. oil inventory, China's economic stimulus plans, and the ongoing military conflict between Russia and Ukraine.

Over the past week, gasoline prices have increased by 1.6-2.5%, with oil prices rising by 0.6-3.1%. Currently, RON95 is trading at $86 per barrel, and diesel is priced at $92.2 per barrel.