An employee refills a motorbike at a fuel station in Hanoi in 2022. Photo by VnExpress/Pham Chieu
Vietnam gasoline prices on Thursday afternoon dipped to the lowest since June 12 as global rates fell.
The popular fuel RON95 declined by 5.73% to VND19,900.
Biofuel E5 RON92 dropped 5.31% to VND19,440. Diesel fell 4.86% to VND18,400.
Fuel prices in the last seven days were influenced by several factors, such as OPEC+ planning to increase oil production in August, Iran announcing a suspension of cooperation with the International Atomic Energy Agency, and an increase in U.S. crude oil inventories, according to the Ministry of Industry and Trade.
Geopolitical and economic fluctuations have led to a downward trend in global fuel prices.
The average price of a barrel of RON 95 gasoline fell by 7.7% to $79.62. Similarly, diesel dropped by 5.9% to $86.93 per barrel.
