Market

Global Fuel Prices Experience a Significant Drop Amidst International Trade Tensions

Recent Decline in Fuel Prices

In a recent development that has caught the attention of consumers worldwide, fuel prices have seen a notable decrease. The popular gasoline RON95 has dropped by 1.03%, bringing its price down to VND21,110 (approximately US$0.83) per liter. Similarly, Biofuel E5 RON92 has experienced a 0.96% decrease, now priced at VND20,650. Diesel prices have also fallen by 0.58%, settling at VND18,950.

Factors Influencing the Price Drop

Regulators have pointed out that the recent fluctuations in fuel prices can be attributed to several international factors. The United States' push to increase tariffs on goods from China and other trading partners has played a significant role. Additionally, the increase in U.S. oil reserves and the potential for a peace agreement between Russia and Ukraine have also influenced the market.

Over the last seven days, gasolines have dropped by 1.5%, while oils have seen a decrease ranging from 0.01% to 1.5%. Currently, RON95 is priced at $86.1 per barrel, and diesel stands at $90.2 per barrel.