Gasoline prices today June 4: Gasoline and oil prices both decreased

The Joint Ministry of Industry, Trade and Finance said that the world petroleum market in recent days is still affected by information about negotiations between the US and Iran and the military conflict between Russia and Ukraine.

These factors cause world gasoline prices to tend to decrease compared to the previous 7 days. Specifically, each barrel of RON 92 used to prepare E5 RON 92 decreased by 7.5% to 116.8 USD, diesel decreased by 3.3% to 141.9 USD. Mazut also decreased by 2.3%, down to 640 USD per ton.

From June 1, all RON 95-III mineral gasoline will be mixed with 10% ethanol to become E10 gasoline before being sold to the market. Meanwhile, E5 RON 92 gasoline continues to be maintained until the end of 2030.

In this afternoon’s executive session, the inter-ministries continued to adjust domestic gasoline prices. Accordingly, the price of E5 RON 92 decreased by 1,470 VND, to 21,780 VND per liter.

Oil products also decreased compared to the previous operating period. Specifically, each liter of diesel is 790 VND lower, and mazut is 800 VND lower compared to 7 days ago.

However, at today’s executive session, the inter-ministries have not announced the base price of E10 gasoline. According to prices announced by key businesses, each liter of E10 RON 95-III gasoline is reduced by 1,330 VND.

Retail prices of gasoline and oil change as follows:

At this period, the operator makes provisions back into the Petroleum Stabilization Fund. Specifically, the deduction rate for biofuel is 500 VND, diesel and mazut is 300 VND per liter, kg.

This is the first operating period since E10 gasoline was officially sold nationwide, replacing RON 95-III. E10 is a type of biofuel, mixed between fuel ethanol (bioethanol) and mineral gasoline.

Currently, the Government’s draft Resolution on implementing the roadmap for using E10 biofuel is being evaluated by the Ministry of Justice. According to the draft, E10 RON 95-III gasoline is determined to be a popular consumer product, with the State announcing the base price of gasoline, replacing RON 95-III mineral gasoline. After this draft resolution is issued, the Ministry of Industry and Trade will together with the Ministry of Finance announce the base price of E10 RON 95-III gasoline.

In fact, the biofuel roadmap was built by the operator many years ago. Since 2018, Vietnam has sold E5 RON92 gasoline nationwide. By August 2025, E10 will be piloted in some localities before expanding nationwide.

At the Government press conference on June 3, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that this agency will conduct surprise inspections of petroleum trading and mixing enterprises to ensure the quality of E10 gasoline from production, mixing, to sale to the market.