Recent Surge in Fuel Prices

The cost of RON95 gasoline has seen a 0.95% increase, now priced at VND20,090 (77 U.S. cents). Similarly, Biofuel E5 RON92 experienced a 1.08% rise to VND19,650, with diesel prices climbing by 2.34% to VND18,830.

Factors Influencing the Price Hike

Recent geopolitical tensions in the Red Sea and new U.S. tariffs on certain goods and trade partners have significantly impacted fuel prices over the past week, as reported by the Ministry of Industry and Trade.

Global Impact

The average price for a barrel of RON 95 gasoline increased by 1.1% to $80.5, with diesel prices also rising by 1.9%. These changes reflect the broader upward trend in global fuel prices due to ongoing economic and geopolitical fluctuations.