Gasoline and oil prices both decrease from 3pm today
Gasoline and oil prices have both decreased since 3pm today, January 8, following adjustments by the Ministry of Industry and Trade and the Ministry of Finance.
The price of RON 95-III gasoline (the popular type on the market) decreased by VND280, down to VND22,600 per liter. Meanwhile, E5 RON 92 is at VND21,610 per liter, down VND290.
Oil products have new prices of 16,880-20,090 VND per liter. Compared to 7 days ago, diesel has decreased by 320 VND, down to 19,870 VND per liter. Kerosene is 230 VND cheaper, and fuel oil is down to 16,880 VND per kilogram.
Gasoline and oil prices change as follows:
| Item | New price | Change |
| Gasoline RON 95-III | 22,600 | - 280 |
| E5 RON 92 gasoline | 21,610 | - 290 |
| Diesel | 19,870 | - 320 |
| Kerosene | 20,090 | - 230 |
| Fuel oil | 16,880 | - 290 |
Unit: VND/liter or kg, depending on type
Thus, since the beginning of the year, gasoline prices have increased 16 times and decreased 14 times. Oil prices have increased 14 times and decreased 16 times. Since the beginning of the year, each liter of RON 95 gasoline has increased by 690 VND, while diesel has increased by 510 VND.
Similar to the previous operating period, today the joint ministry did not draw or spend from the Price Stabilization Fund for fuel products. This is the 41st period, since October 2023, that the operator has not used the Price Stabilization Fund. By the end of 2023, this fund had a surplus of more than VND 6,655 billion, according to data from the Ministry of Finance.
The operator said fuel prices fluctuated last week due to new developments in the conflict in the Middle East, US crude oil reserves and reduced demand from China.
On average, over the past 7 days, finished gasoline prices have decreased by about 1.4-1.5%, while oil prices have decreased by 1.3-2%. Accordingly, each barrel of RON 95 gasoline has decreased to 94.2 USD, diesel oil is at 95.8 USD, and fuel oil is at 488.8 USD per ton.
