Starting 3:00 p.m. October 16, the price of E5 RON92 petrol increased by VND88 per liter, reaching a maximum price of VND19,226 per liter. Similarly, the price of RON95 petrol rose by VND174 to VND19,903 per litre.

In contrast, the retail prices of all types of oil decreased. Diesel oil dropped by VND181 to VND18,423 per litre; kerosene decreased by VND28, to VND18,406 per liter; and mazut oil dropped by VND437 to VND14,371 per kilogram.

Notably, during this pricing period, the authorities continued to refrain from adding to or using the petrol and oil price stabilization fund for all products.

During the price adjustment a week ago, the price of E5 RON92 decreased by VND486 VND per liter, dropping to 19,138 VND per liter; RON95 gasoline fell by 480 to VND19,729 per liter. Oil prices also saw reductions, with diesel oil decreasing by VND434 to VND18,604 per litre; kerosene falling by VND571 to VND18,434 per liter; and mazut oil dropped by VND562 to VND14,808 per kilogram.

According to the authorities, the global oil market during this period (from October 9 to 15) was influenced by factors such as OPEC+ announcing a modest increase in oil production for November, although lower than expected; global oil demand showing signs of weakening; and the ongoing military conflict between Russia and Ukraine, with Ukraine intensifying attacks on Russian energy infrastructure.

These factors have contributed to fluctuations in global oil prices, with mixed trends of increases and decreases, but the overall trend has been downward.

Since the beginning of the year, the price of RON95 in Vietnam has increased 24 times and decreased 19 times. Diesel oil has seen 21 increases, 20 decreases, and 1 unchanged.

Domestic retail petrol and oil prices rise in latest adjustment

VOV.VN - The Ministry of Finance and the Ministry of Industry and Trade announced the latest fuel price adjustment, effective from 3:00 p.m. on October 2, with most oil and petrol products seeing increases.