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Gasoline Prices Drop Below 20,000 VND per Liter

From 3:00 p.m. on October 9, the Ministry of Industry and Trade and the Ministry of Finance announced a downward adjustment in domestic retail fuel prices, with most fuel types seeing a significant decrease.

Specifically, E5 RON 92 gasoline decreased by 486 VND per liter to 19,138 VND per liter, while RON 95 gasoline dropped by 480 VND per liter to 19,729 VND per liter. Diesel fell by 434 VND per liter to 18,604 VND per liter; kerosene dropped by 571 VND per liter to 18,434 VND per liter; and fuel oil decreased by 562 VND per kilogram to 14,808 VND per kilogram.

According to the Ministry of Industry and Trade, global fuel prices during this adjustment period were affected by several factors: OPEC+ announced an increase in oil production for November, but the rise was lower than expected; global oil demand has weakened; and the ongoing Russia-Ukraine conflict has intensified, with Ukraine stepping up attacks on Russian energy facilities. These factors have generally driven global oil prices downward.

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The authorities decided not to allocate or use the Fuel Price Stabilization Fund in this round. Retail prices are set by major distributors and wholesalers but cannot be adjusted earlier than 3:00 p.m. on October 9, and must comply with current regulations.

The Ministry of Industry and Trade stated that it will coordinate with relevant agencies to monitor fuel supply obligations and strictly handle any violations in fuel business operations.

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