This is the second consecutive fall in domestic petrol prices within a fortnight after the fuel rose sharply by more than VND1,000 per litre on October 10.
According to the latest price adjustment cycle, the price of E5 RON92 decreased by VND40 to VND19,690 per litre while that of RON95 went down by VND70 to VND20,890 per litre.
The prices of diesel and kerosene also dipped by VND270 and VND50 to VND18,050 per litre and VND18,570 per litre, respectively.
In contrast, mazut oil 180CST 3.5S was sold at VND16,220 per kilo, up VND130 per kilo compared to the previous week.
According to the two ministries, the global oil market during the latest adjustment period from October 17–24 was influenced by several factors, including concerns about the potential escalation of conflict in the Middle East, a major storm hitting the US causing a surge in fuel demand, and the ongoing military conflict between Russia and Ukraine.
These developments resulted in fluctuating global fuel prices across various products, though the general trend has been upward.
Since the beginning of the year, petrol and oil prices in Vietnam have undergone 41 adjustments, including 19 increases and 22 decreases for petrol RON95 and E5RON92; 16 increases and 25 decreases for diesel; and 23 increases and 18 decreases for mazut.
These frequent adjustments reflect the volatility in global energy markets influenced by geopolitical tensions, weather disruptions, and fluctuating demand.
