Domestic petrol prices rise on global oil market rally
VOV.VN - In tandem with a strong increase in global crude oil prices, domestic fuel prices saw a sharp rise as of 3p.m. on November 7 following price adjustments by the Ministry of Finance and the Ministry of Industry and Trade.
The price of RON95-III, the most commonly used petrol in Vietnam, rose VND351 to VND20,854 per liter, while that of E5RON92 was listed at VND19,744 per liltre, up VND336 from the precious price adjustment cycle a week ago.
Meanwhile, the price of diesel 0.05S increased by VND769 to VND18,917 per liter, and of kerosene by VND461 to VND19,294 per liter.
On contrast, the price of mazut 180CST 3.5S decreased by VND67 per kilogram, now priced at no more than VND16,394 per kilogram.
According to the Ministry of Industry and Trade, the global oil market during this adjustment period from October 31 to November 6 was influenced by several factors, including the ongoing conflicts in Ukraine and the Middle East, and OPEC+ postponing plans to increase oil production.
These factors have caused fluctuations in global fuel prices in recent days, with different products experiencing increases or decreases depending on the specific commodity.
On November 7 morning, global oil prices showed a slight downward trend as the US dollar strengthened. Investors are assessing the potential impact of incoming US President-elect Donald Trump’s foreign policy plans, which may reduce global oil supply.
