PVOIL announced an additional 350 dong per liter reduction on fuel prices, effective from 0h on 16/10 to 15h on 22/10. This reduction applies to E10 RON95-III gasoline, E5 RON92-II gasoline, and diesel 0.05S-II oil at 1,100 PVOIL stores. After this adjustment, E10 RON95-III will be 26,670 dong, E5 RON92-II will be 26,620 dong, and diesel will be 28,750 dong per liter. This retail price reduction policy falls under the "PVOIL Joins Hands to Stabilize, Energize the Journey" program, supporting the government's goals of inflation control, macroeconomic stability, and fostering growth.

PVOIL proactively reduced retail prices to share the cost burden with citizens and businesses, contributing to price and inflation control. This is especially beneficial for those earning a living through transportation, delivery businesses, or companies that consume significant fuel, as the accumulated savings from each purchase will help reduce operational costs. A company representative stated, "The 'PVOIL Joins Hands to Stabilize, Energize the Journey' program embodies our commitment to supporting the public and society. We hope to make a tangible contribution to market stabilization and support daily life, production, and business activities, particularly during the year-end peak season."

Fuel station of the company in TP HCM. *Photo: PVOIL*

The Inter-Ministry of Industry and Trade - Finance had previously noted that global oil markets were influenced by Russia's diesel export agreement with the United States and OPEC's revised lower oil demand growth forecast for this year. These factors led to fluctuating world fuel prices. Specifically, RON 95 used for E10 RON 95 blending decreased by 5,4% to 145.7 USD per barrel, while diesel fell by 1,1% to 165.1 USD per barrel. Mazut, however, increased by 7,1% to 771 USD per ton.

PVOIL is a leading fuel distribution company in Vietnam, operating nearly 900 retail stores and holding approximately 23% of the market share. The company is also at the forefront of digital transformation, having developed applications such as PVOIL Easy, PVOIL 4U, and PVOIL B2B. Furthermore, PVOIL is actively deploying over 400 electric vehicle charging stations and expanding non-fuel services, with the aim of becoming a diversified energy provider in the future.

Phu Cat