Gasoline prices drop for second time since October 2
Gasoline prices dropped by VND1,600-1,800 ($0.65-0.74) per liter and that of oil products by VND1,180-1,350 ($0.48-0.55) per liter starting at 4 p.m. Wednesday.
The prices recorded consecutive increases from July 11 to September 21 before dropping on October 2. This is the second decline since then.
The price of RON 95-III gasoline decreased by VND1,800 ($0.74) per liter to VND23,040 ($0.94); and that of E5 RON 92 by VND1,600 ($0.65) per liter to VND21,900 ($0.9), the lowest levels in nearly two months.
The latest price adjustments were made jointly by the Ministry of Industry and Trade and the Ministry of Finance.
A gas station employee. Photo courtesy of goverment newspaper.
Kerosene, diesel, and mazut prices also decreased by more than VND1,000 ($0.41) per liter and kilogram.
For the latest price adjustment, the ministries refrained again from using the price stabilization fund.
From the beginning of the year until now, domestic fuel prices have seen 29 adjustments, 16 of which saw them increase, 9 saw decreases and four saw prices remain unchanged. According to the two ministries, prices in the world petroleum market have dropped in the past 10 days due to tensions in the Middle East region.
Statistics from Trading Economics show that world brent crude futures steadied around $88 per barrel Wednesday as fears of possible supply disruptions in the Middle East due to the Israel-Hamas conflict started to fade. Saudi Arabia also reiterated its support for efforts by OPEC+ to balance oil markets and measures that can bolster global growth.
- Related News
- Read More
Malaysia develops data centers to become technology nation
The data center sector can be a catalyst for Malaysia to become a technology nation, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
Southeast Asia - Sat, May 10, 2025 | 11:03 pm GMT+7
Vietnam's V-GREEN signs $300 mln MoU with partners for EV charging ports in Indonesia
V-GREEN, the global electric vehicle (EV) charging station arm of Vietnamese conglomerate Vingroup, on Friday announced the signing of an MoU with four strategic partners to deploy 63,000 VinFast EV charging ports across Indonesia by the end of 2025.
Southeast Asia - Sat, May 10, 2025 | 11:00 pm GMT+7
Northern Vietnam province Bac Ninh records two-fold rise in 4-month registered FDI
Bac Ninh province attracted more than $1.91 billion in registered FDI capital during the first four months of the year, marking a 2.2-fold year-on-year increase, according to provincial official data.
Southeast Asia - Sat, May 10, 2025 | 10:55 pm GMT+7
Vietnam's Dai Hung - Phase 3 project produces first commercial oil flow
The phase 3 of the Dai Hung field development project (Dai Hung - Phase 3) offshore Vietnam has officially begun production of its first oil flow with 6,000 barrels per day, 20 days ahead of the adjusted schedule, according to state-owned Petrovietnam.
Southeast Asia - Sat, May 10, 2025 | 4:34 pm GMT+7
Vietnam's Party chief attends inauguration of Hanoi-Moscow direct flight
Party chief To Lam and a high-ranking Vietnamese delegation attended the launching ceremony of Vietnam Airlines’ Hanoi-Moscow air route on May 9 (local time), as part of his trip to Russia for an official visit and participation in the celebration marking the 80th anniversary of Victory in the Great Patriotic War.
Travel - Sat, May 10, 2025 | 4:29 pm GMT+7
Where does Vietnam's agricultural major Hoang Anh Gia Lai stand in pig farming industry's boom?
Hoang Anh Gia Lai JSC missed out on the Vietnamese pig farming industry’s growth surge from 2024 through Q1 of this year, after halting pig production during a period of low prices.
Companies - Sat, May 10, 2025 | 4:24 pm GMT+7
Indonesia to allow private companies to build EV charging stations
The Indonesian government is revising the rules to allow third parties to set up electric vehicle (EV) charging stations in Indonesia, said Minister of Investment and Downstreaming and head of the Investment Coordinating Board (BKPM) Rosan Roeslani.
Southeast Asia - Sat, May 10, 2025 | 4:01 pm GMT+7
Philippines aims to become $2,000-billion economy by 2050
The Philippines is maintaining strong economic growth and is on track to become a $2,000-billion economy by 2050, said Secretary of the country's Department of Economy, Planning and Development Arsenio Balisacan.
Southeast Asia - Sat, May 10, 2025 | 3:53 pm GMT+7
Vingroup chairman Vietnam's first person to have $9 bln in assets: Forbes
Vingroup’s founder and chairman Pham Nhat Vuong has become the first Vietnamese person to have a fortune of $9 billion, according to Forbes's update on Thursday, May 8.
Companies - Sat, May 10, 2025 | 1:09 pm GMT+7
Vietnam guarantees 65% power offtake for imported LNG-to-power projects over 10 years
Vietnam will guarantee an offtake of at least 65% of annual electricity output from projects using imported liquefied natural gas (LNG) power for up to 10 years, under a newly-issued government decree.
Energy - Sat, May 10, 2025 | 10:27 am GMT+7
VAFIE signs cooperation deal with Institute of Energy Technology
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and the Institute of Energy Technology (IET) under Hanoi University of Science and Technology has signed a bilateral cooperation agreement.
Companies - Sat, May 10, 2025 | 10:12 am GMT+7
Advisor outlines three strategies for Vietnamese firms facing US tariffs
Vietnamese companies must upgrade their value chains, shift decisively from original equipment manufacturing (OEM) to original brand manufacturing (OBM), and invest in brand development to combat the threats posed by U.S. tariffs.
Economy - Sat, May 10, 2025 | 8:17 am GMT+7
Vietnam's real estate major Hoang Huy aims for record net profit in 2025
Vietnamese property developer Hoang Huy Group targets to earn VND1.6-2 trillion ($61.6-77 million) in 2025 net profit, an all-time high and up 43-78% year-on-year, said deputy CEO Do Huu Hung.
Real Estate - Fri, May 9, 2025 | 11:23 pm GMT+7
Excise tax on sugary drinks needed as soon as possible: Vietnamese finance minister
Minister of Finance Nguyen Van Thang said a tax on sugar-sweetened beverages should have been introduced earlier, warning action cannot wait until the next generation is already facing obesity and related illnesses.
Economy - Fri, May 9, 2025 | 4:35 pm GMT+7
Murphy Oil drills second oil discovery offshore Vietnam
The U.S.-based Murphy Oil has made an oil discovery at the Lac Da Hong-1X (Pink Camel) well in the Cuu Long Basin offshore Vietnam, which is the second discovery in the company's current Vietnam exploration program.
Companies - Fri, May 9, 2025 | 4:09 pm GMT+7
Trade talks with Vietnam 'fruitful': US Trade Representative
U.S. Trade Representative (USTR) Jamieson Greer has described the ongoing trade talks with Vietnam and other countries as “fruitful”, saying “they understand what we're trying to solve for”.
Economy - Fri, May 9, 2025 | 2:48 pm GMT+7
