An employee refills a motorbike at a fuel station in Hanoi in 2022. Photo by Read/Ngoc Thanh
Gasoline prices in Vietnam have inched up after a plunge amid fluctuating global oil prices.
The popular fuel RON95 rose 1.31% to VND25,570 (US$0.97) per liter late Thursday.
Biofuel E5 RON92 fell 1.96% to VND22,500. Diesel went up 2.08% to VND27,020.
Oil prices dropped on Friday morning after the U.S. issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea, easing supply concerns, Reuters reported.
Brent futures dropped 71 cents, or 0.71%, to $99.75 a barrel, and U.S. West Texas Intermediate (WTI) crude was down 88 cents, or 0.92%, to $94.85.
The announcement on Russian oil came a day after the U.S. Energy Department said the U.S. would release 172 million barrels of oil from the Strategic Petroleum Reserve in an effort to curb skyrocketing oil prices in the wake of the war in Iran.
That plan was coordinated with the International Energy Agency, which has agreed to release a record 400 million barrels of oil from strategic stockpiles, including the U.S. contribution.
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