Recent Fuel Price Increases

RON95 saw a 1.69% increase, reaching VND20,420 (US$0.80) per liter.

Biofuel E5 RON92 experienced a 1.73% rise, climbing to VND20,030.

Diesel prices went up by 2.26%, settling at VND18,520.

Factors Behind the Price Hike

Regulators attribute the recent fuel price increases to a decrease in U.S. crude oil and gasoline inventories.

Additional pressures come from the U.S. plans to impose taxes on goods from nations purchasing oil from Venezuela.

The OPEC+ decision to continue increasing oil production also plays a significant role in the current market dynamics.

Weekly Price Movement Overview

Over the past seven days, gasoline prices have surged by 1.9-2.1%, with oils seeing a 1.9-2.5% increase.

Currently, RON95 is priced at $82.3 per barrel, while diesel stands at $85.8 per barrel.