According to adjustments from the Inter-Ministerial Committee of Industry and Trade - Finance, RON 95-III gasoline, a common type in the market, decreased by 2,990 dong, now costing 23,540 dong per liter. Similarly, E5 RON 92 dropped by 2,390 dong, with a new price of 22,340 dong.

Other oil products also saw reductions of 1,660-9,880 dong per liter, compared to the previous adjustment period. Specifically, diesel now costs 32,960 dong per liter and mazut 22,610 dong per liter, reflecting drops of 9,880 dong and 1,660 dong respectively.

Gasoline and oil prices changed as follows:

Unit: dong/liter or kg, depending on type.

The ongoing Middle East conflict, which has escalated since late February, continues to severely impact the global supply of gasoline, oil, and gas. The scale and impact of this crisis surpass the oil shock of the 1970s, which previously disrupted economies and energy markets worldwide.

This global instability has led to significant fluctuations in the domestic energy market. Since late February, retail gasoline and oil prices in Vietnam have undergone 14 adjustments. At times, RON 95 gasoline nearly reached 40,000 dong, and diesel hit 45,000 dong per liter.

During a government press conference last week, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan confirmed that domestic refineries, Dung Quat and Nghi Son, have sufficient raw materials for production until the end of April. Additionally, main traders imported 3,2 million cubic meters of gasoline and oil in March. Combined with current inventory of 2,6-2,8 million cubic meters, the domestic supply is expected to meet production and consumption needs until the end of this month, according to the Deputy Minister.

To ensure continuous domestic fuel supply, the Domestic Market Management and Development Department, under the Ministry of Industry and Trade, has urged main traders and distributors to diversify supply sources and plan fuel imports for May.

*Continuing to update

Phuong Dung