Vietnam Sees Gasoline Price Hike Amid Mideast Tensions

Gasoline prices in Vietnam increased on Thursday, with the popular RON95 fuel rising by 2.96% from a week ago to VND23,270 ($0.89) per liter. E5 RON92 also gained 3.31% to VND22,480. In contrast, diesel prices declined by 1.21% to VND27,740. The price adjustments are attributed to developments in the global petroleum market. According to the Ministry of Industry and Trade and the Ministry of Finance, recent days have seen the market affected by tensions between the U.S. and Iran, as well as continued disruptions to oil shipments through the Strait of Hormuz. The price of a barrel of RON 95 crude rose 4% to $121, while diesel fell 1.1% to $154.70. Despite the recent increase, gasoline prices in Vietnam remain 18%-97% lower than in neighboring countries following the adjustment. Prices in Cambodia and Thailand are 18% and 27% higher, respectively, while China's prices are 41% higher and Laos' are 97% higher. Information source: VnExpress International