(GLO)- At the end of the trading session on May 18, oil prices fell about 1% after solid US economic data pushed the USD to a two-month high due to expectations that the US Federal Reserve (Fed) could raise interest rates in mid-June.
According to PetroTimes, recorded in the early morning of May 19, Vietnam time, on the New York Mercantile Exchange, the price of light sweet crude oil WTI for August 2023 delivery was at 72.07 USD/barrel, up 0.21 USD during the session and down 0.45 USD/barrel compared to the same time on May 18.
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Gasoline prices may increase slightly in the next management period. Photo: Phuong Vi |
Meanwhile, the price of Brent oil for August 2023 delivery stood at 76.01 USD/barrel, up 0.21 USD during the session and down 0.55 USD/barrel compared to the same time on May 18.
World oil prices fell today (May 19) as solid US economic data pushed the dollar to a two-month high amid growing expectations that the US Federal Reserve (Fed) could raise interest rates again in June.
A stronger dollar could hurt oil demand by making fuel more expensive for holders of other currencies.
In general, world oil prices are still 2.3% higher than last weekend, so experts predict that retail gasoline prices will increase slightly in the adjustment period on May 21. The increase is about 200-300 VND/liter.
Since the beginning of the year, gasoline prices have undergone 14 price adjustments. Of these, 7 have increased, 6 have decreased, and 1 has remained unchanged.
Domestic retail prices of gasoline on May 19 are as follows:
E5 RON 92 gasoline is not more than 20,131 VND/liter
RON 95 gasoline not more than 21,000 VND/liter
Diesel oil not more than 17,653 VND/liter
Kerosene not more than 17,972 VND/liter
Fuel oil not exceeding 14,862 VND/kg
(Source: People's Army Newspaper)
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