Gasoline price today September 26, 2024
Recorded on Oilprice at 5:00 a.m. on September 26, 2024 (Vietnam time), WTI oil price was at 69.84 USD/barrel, down 2.61% (equivalent to a decrease of 1.87 USD/barrel).
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| WTI oil price on the world market early morning September 26 (Vietnam time) |
Similarly, Brent oil price was at 73.67 USD/barrel, down 2% (equivalent to a decrease of 1.5 USD/barrel).
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| Brent oil price on the world market early morning September 26 (Vietnam time) |
Oil prices fell more than 2% on Tuesday as concerns about supply disruptions in Libya eased and demand continued to rise despite China’s latest stimulus plans. However, a drop in U.S. crude inventories and rising tensions in the Middle East also provided some support.
Libya's factions have signed an agreement on the process for appointing a central bank governor, a first step toward resolving a dispute over control of the central bank and oil revenues that has cut into Libya's oil production and exports.
“ A pending resolution to the Libyan central bank crisis would restore significant oil supplies, while the disruption to US Gulf production is seen as temporary ,” said energy strategist Clay Seigle.
A hurricane threatening the U.S. Gulf Coast has changed course, heading toward Florida and away from oil and gas production areas near Texas, Louisiana and Mississippi.
Despite a series of monetary support measures announced by China's central bank on Tuesday, the boldest since the pandemic hit, analysts warn that more fiscal support is needed to boost activity in the world's largest crude importer.
“ Concerns remain that more fiscal support is needed to boost confidence in the Chinese economy. This uncertainty raises doubts about sustainable demand growth, putting pressure on crude oil prices, ” said George Khoury, global head of education and research at CFI Financial Group.
Meanwhile, the Energy Information Administration said U.S. crude inventories fell by 4.5 million barrels to 413 million barrels in the week ended September 20 , compared with analysts' expectations in a Reuters poll for a 1.4 million-barrel decline. Gasoline and distillate inventories also fell last week.
“ The supply trend is getting too big to ignore. We’re hearing how bad demand can be and there are mixed signals,” said Phil Flynn, an analyst at Price Futures Group. “The weakness in demand doesn’t match this inventory situation ,” he added.
The escalating conflict between Iran-backed Hezbollah forces in Lebanon and Israel also supported crude prices, as cross-border rockets fired by both sides raised concerns of a wider conflict.
Achilleas Georgolopoulos, investment analyst at brokerage XM, said that although Iran's leadership has shown restraint, an attack could still be carried out to save face, but without angering European allies and disrupting key oil shipping routes.
Domestic retail gasoline prices on September 26, 2024 will be applied according to the adjustment session from 3:00 p.m. on September 19 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 18,941 | +51 |
RON 95 gasoline | 19,762 | +127 |
Diesel | 17,042 | -122 |
Oil | 17,551 | -239 |
Fuel oil | 14,826 | +359 |
Specifically, the price of E5 RON 92 gasoline increased by 51 VND/liter, to 18,941 VND/liter; RON 95 gasoline increased by 127 VND/liter, to 19,762 VND/liter.
Diesel 0.05S price: Decreased by 122 VND/liter, up to 17,043 VND/liter; Kerosene decreased by 239 VND/liter, up to 17,551 VND/liter; Madut 180CST 3.5S increased by 359 VND/kg, up to 14,826 VND/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance will not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.
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| Domestic gasoline prices will be adjusted from 3:00 p.m. on September 19. Illustrative photo |
According to the Ministry of Industry and Trade, the world oil market in this operating period (from September 12, 2024 to September 18, 2024) is affected by factors such as: the US Federal Reserve's decision to cut interest rates, storms in the US Gulf of Mexico, China's oil demand remains weak, the military conflict between Russia and Ukraine continues, etc. The above factors have caused world oil prices in recent days to increase and decrease depending on each product.
Since the beginning of 2024, domestic gasoline prices have undergone 37 adjustment sessions, including 19 decreases, 15 increases and 4 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-ngay-2692024-gia-dau-giam-tiep-tuc-giam-348389.html
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