Gasoline prices drop ahead of Tet

By Phuong Dung   February 8, 2024 | 02:00 am PT
Gasoline prices drop ahead of Tet
An employee refills a motorbike at a fuel station in Ho Chi Minh City. Photo by VnExpress/Thanh Loc
Gasoline and diesel prices fell slightly on Thursday, the first day of the one-week Lunar New Year break.

The popular gasoline RON95 dropped VND900 per liter, or 3.7%, to VND23,260 ($0.95) per liter.

Biofuel E5 RON92 fell VND790 to VND22,120.

Diesel products declined to VND15,590-20,700 per liter.

After four consecutive increases, this is the first price decrease this year.

The Ministry of Industry and Trade and Ministry of Finance said that the world petroleum market increased in the past seven days due to the impact of information about the ceasefire in Gaza, the conflict in the Red Sea, increased petroleum inventories in the U.S., the oil refinery fire in Russia and difficulties in China's economy.

These factors cause world petroleum prices to fluctuate up and down, with an average decrease of 1.36-4.16% per seven days.

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