Vietnam adjusted gasoline and diesel prices on Thursday in response to recent changes in the global energy market.
The Ministry of Industry and Trade and the Ministry of Finance said global oil prices had been influenced by developments in U.S.-Iran negotiations, while cargo shipments through the Strait of Hormuz remained disrupted.
The most popular fuel RON 95 rose 6.1% from last Thursday to VND25,540 (US$0.97) per liter.
Biofuel E5 RON 92 gained 5.23% to VND24,340. Diesel added 5.66% to VND28,760.
Globally RON95 gasoline rose 6.8% in the last seven days to US$139.8 per barrel, while diesel increased 6.4% $155.3.
From June 1, Vietnam’s E10 RON 95 gasoline will be sold widely, replacing the current RON 95 fuel. E5 RON 92 gasoline will continue to be sold until the end of 2030. E10 RON 95 contains 10% ethanol and is believed to reduce tailpipe pollution.
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An employee holds a fuel nozzle at a gas station in HCMC. Photo by Read/Huu Khoa |
As of May 15 this year, Vietnam had imported nearly 4.33 million tonnes of various types of petroleum products, worth $4.55 billion, according to data from the Ministry of Industry and Trade.
Compared with the same period last year, jumped 20.9% in volume and 85.7% in value.
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