Gasoline price today October 17, 2024
Recorded on Oilprice at 5:00 a.m. on October 17, 2024 (Vietnam time), WTI oil price was at 70.70 USD/barrel, up 0.45% (equivalent to an increase of 0.32 USD/barrel).
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| WTI oil price on the world market in the early morning of October 17, 2024 (Vietnam time) |
In contrast, Brent oil price was at 74.45 USD/barrel, down 0.04% (equivalent to a decrease of 0.03 USD/barrel).
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| Brent oil price on the world market in the early morning of October 17, 2024 (Vietnam time) |
Oil prices held at a two-week low on Tuesday after falling about 7% in the previous three days on forecasts of slower oil demand growth and easing concerns that conflicts in the Middle East will disrupt supplies.
Brent crude futures fell 3 cents to settle at $74.22 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 19 cents, or 0.3%, to settle at $70.39. Both crude benchmarks closed at their lowest levels since Oct. 2 for the second straight day.
Crude oil prices fell earlier this week on a weaker demand outlook and media reports that Israel would not attack Iran's nuclear and oil facilities, easing concerns about supply disruptions.
Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC) and produced about 4.0 million barrels of oil per day (bpd) in 2023, according to data from the US Energy Information Administration (EIA).
Iran is expected to export about 1.5 million barrels per day in 2024, up from an estimated 1.4 million barrels per day in 2023, according to analysts and U.S. government reports. Iran backs several groups fighting Israel, including Hezbollah in Lebanon, Hamas in Gaza and the Houthis in Yemen.
Concerns about an escalation in the conflict between Israel and the Iran-backed militant group Hezbollah remain. Supply curbs by OPEC and its allies including Russia, a group known as OPEC+, remain in effect until December when some members are expected to begin removing a layer of cuts.
On the demand side, OPEC and the International Energy Agency this week cut their forecasts for global oil demand growth through 2024, with China accounting for the bulk of the reductions. The IEA forecasts global oil demand will peak before 2030 at just under 102 million barrels per day and then decline to 99 million barrels per day by 2035.
Fiscal stimulus measures announced in China have done little to support oil prices. China may raise an additional 6 trillion yuan ($850 billion) in special treasury bonds over three years to stimulate its slowing economy, local media reported.
Domestic retail gasoline prices on October 17, 2024 will be applied according to the adjustment session from 3:00 p.m. on October 10 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 19,846 | +996 |
RON 95 gasoline | 21,061 | +1.258 |
Diesel | 18,500 | +1.099 |
Oil | 18,790 | +1.139 |
Fuel oil | 15,911 | +908 |
Specifically, the price of E5 RON 92 gasoline increased by VND996/liter to VND19,846/liter; RON 95 gasoline increased by VND1,258/liter to VND21,061/liter.
Diesel 0.05S price: Increased by 1,099 VND/liter, up to 18,500 VND/liter; Kerosene increased by 1,139 VND/liter, up to 18,790 VND/liter; Madut 180CST 3.5S increased by 908 VND/kg, up to 15,911 VND/kg.
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| Gasoline price today October 17, 2024. Illustration photo |
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
Thus, from the beginning of 2024 to now, domestic gasoline prices have undergone 40 adjustment sessions, including 20 decrease sessions, 17 increase sessions and 4 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-17102024-gia-dau-giu-muc-thap-nhat-trong-2-tuan-352878.html
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