After increasing to 99.42 USD/barrel at 7:54 AM on May 11 (Vietnam time), by 8:30 PM on the same day, WTI oil prices had fallen to 96.26 USD/barrel, down 3.16 USD/barrel.
Brent crude oil was at 103.35 USD/barrel, down slightly 1.2 USD compared to this morning.
According to analysts, gasoline prices fluctuated after the US and Iran failed to reach a consensus on the peace proposal put forward by Washington.
Iranian state television IRIB said that in its proposal, Iran wants to compensate for damages caused by the conflict and emphasized sovereignty over the Strait of Hormuz.
Iran called on the US to end the maritime blockade campaign, ensure no more attacks, lift sanctions and lift the oil embargo imposed by Washington on Tehran.
Meanwhile, US President Donald Trump wrote on the social network Truth Social that he "has just read feedback from an Iranian representative" on the US peace proposal and declared "this document is unacceptable".
Domestically, gasoline prices are applied as follows: E5RON92 gasoline has a price not higher than 23,790 VND/liter. RON95 gasoline price is not higher than 24,354 VND/liter.
Mazut oil is priced no higher than 21,172 VND/kg. Diesel oil is priced no higher than 27,494 VND/liter.
The Ministry of Industry and Trade said that Vietnam's gasoline and oil prices are lower than in countries sharing borders and in the region such as Thailand.
