The line graph delineates the fluctuations in prices of RON 95 petrol and diesel fuel in Vietnam between January and August 2024, expressed in Vietnam Dong per liter.
Overall, both fuels exhibited similar trends, characterized by initial increases followed by subsequent declines. RON 95 petrol consistently maintained a higher price point compared to diesel throughout the observed period.
In January 2024, the price of RON 95 petrol commenced at 22,000 VND per liter, while diesel was priced at 19,000 VND per liter, illustrating a differential of 3,000 VND. RON 95 then experienced a rapid ascent, reaching its zenith of 26,000 VND in April 2024, before witnessing a decline to 23,000 VND by August 2024. Conversely, diesel oil prices demonstrated a steadier trajectory; beginning at 19,000 VND in January, they rose progressively to 21,000 VND by June 2024, before experiencing a slight retraction to 20,000 VND in August 2024.
It is noteworthy that while both petrol and diesel prices increased during the initial months of 2024, the degree of fluctuation remained relatively stable, with a consistent price gap of approximately 2,500 VND between the two fuels at all times. This pattern highlights the distinctive pricing strategies in the oil market within Vietnam, as well as the market’s response to varying economic conditions during the examined timeframe.