The price of RON 95-III gasoline in Vietnam was cut by VND30 to VND22,999 ($0.95) while that of E5 RON 92 increased VND100 to VND21,790 ($0.9), starting from 3 p.m. Thursday.
Kerosene and mazut prices rose VND170 and VND90 to VND21,110 ($0.87) per liter and VND15,720 ($0.65) per kilogram, respectively; while that of diesel fell VND90 to VND20,190 ($83) per liter, according to a joint decision by the Ministry of Industry and Trade and the Ministry of Finance.
In the latest price adjustments, the ministries continued to hold back on using the national gasoline price stabilization fund to cut prices.
Since the beginning of the year, domestic fuel prices have seen 33 adjustments, including 17 upward, 12 downward and four unchanged.
According to the ministries, the world petroleum market in the past seven days has seen mixed developments as investors focused their attention on expectations that OPEC+ would cut new supply and ignore the increase in U.S. crude oil, gasoline and distillate reserves.
The average price of RON 92 gasoline has risen to $91.75 per barrel, an increase of 0.72%; while that of RON 95 is $97.11 per barrel, down 0.16%.
The prices of kerosene and mazut oil increased 0.98% and 0.72% to $106.18 and $463.36 per barrel, respectively. Diesel decreased by 0.5% to $101.94 per barrel.