Vietnam gasoline prices rose while diesel fell Thursday afternoon.
The most popular fuel RON95 went up 2.53% to VND24,350 (US$0.93) per liter.
Biofuel E5 RON92 rose 5.17% to VND23,790.
Diesel dropped 2.42% to VND27,490.
Globally the oil market in recent days continued to be affected by the Middle East conflict, information surrounding peace negotiations between the U.S. and Iran, and tensions in the Strait of Hormuz, according to the Ministry of Finance and the Ministry of Industry and Trade.
Oil prices rose over $1 on Thursday, rebounding from the previous day’s sharp losses, as investors weighed the prospects of a Middle East peace deal succeeding, Reuters reported. Brent crude futures were up 54 cents, or 0.5%, at $101.81 a barrel. U.S. West Texas Intermediate gained 45 cents, or 0.5%, to $95.53 a barrel.
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A customer pays for fuel at a gas station in Hanoi, March 2022. Photo by VnExpress/Ngoc Thanh |
“While peace negotiations are likely to continue at least until next week’s U.S.-China summit, the outlook beyond that remains uncertain,” said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities.
“The main scenario is that oil prices will remain elevated,” Kikukawa said.
