Gasoline prices tend to increase; Domestic coffee prices are stable at a good level

Gasoline prices tend to increase

Today, April 1, the price of gasoline and oil on the international market tends to increase following the upward trend from last week. Last week, the world oil price increased sharply with Brent oil increasing by 2.4% and WTI oil price increasing by 3.2%.

International oil prices last week only traded 4 sessions instead of 5 sessions because the market was closed on Good Friday (March 29).

Gasoline prices tend to increase.

With 2 sessions of increase and 2 sessions of slight decrease, oil prices last week recorded an upward week. Overall, Brent oil prices increased by 2.4% while WTI oil prices increased by 3.2%.

Closing last week, Brent oil price was fixed at 87 USD/barrel, WTI oil price ended the week at 83.17 USD/barrel.

Oil prices ended the first quarter of 2024 at a fairly high level. According to Reuters, both oil benchmarks have been rising steadily since the beginning of the year and recorded a hat-trick of increases for the third consecutive month in March.

In the domestic market, the selling prices of gasoline and oil today, April 1, are applied according to the prices at the management session on the afternoon of March 28 of the Ministry of Finance - Industry and Trade.

Accordingly, the retail prices of petroleum products are regulated in the direction of increasing gasoline prices and decreasing oil prices. Specifically, the price of E5 gasoline is raised to 23,620 VND/liter. The price of RON95 gasoline increases to 24,810 VND/liter. In contrast, the price of diesel is adjusted down to 20,690 VND/liter. The price of kerosene is reduced to 20,870 VND/liter.

Will the USD increase or decrease in the new week?

Today, April 1, VND/USD exchange rate, USD VCB keeps increasing slightly, will the world USD increase or decrease in the new trading week?

The central VND/USD exchange rate announced by the State Bank today is adjusted to 24,003 VND/USD, up 5 VND compared to the trading session on March 29.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,153 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,153 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,600 and a selling price of 24,970, an increase of 20 VND compared to the trading session on March 29. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 104.49 points - down 0.06% compared to trading on March 29.

Domestic coffee prices remain stable at high levels

Updated at 4:24 a.m. on April 1, domestic coffee prices tend to stabilize and remain high. Currently, the average purchase price in the Central Highlands provinces is 98,600 VND/kg, the highest purchase price in Dak Nong province is 98,700 VND/kg.

Specifically, coffee was purchased in Gia Lai and Kon Tum provinces at the price of 98,600 VND/kg; In Dak Nong province, coffee was purchased at the highest price of 98,700 VND/kg.

Green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, are purchased at 98,100 VND/kg.

In Cu M'gar district, Dak Lak province, coffee is purchased at about 98,500 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 98,600 VND/kg.

According to statistics for the first quarter of 2024, Vietnam is expected to export nearly 600,000 tons of coffee with a turnover of about 1.9 billion USD, an increase of 3.1% in export quantity but an increase of 54.7% in export turnover. Of which, green coffee exports are the main, accounting for about 91% in output and about 85% in value. Although instant coffee and deeply processed products have increased in export, they are still at a low rate (turnover accounts for 15% of the total coffee export turnover of the country).

The Vietnam Coffee and Cocoa Association (Vicofa) forecasts that Vietnam's coffee exports in the 2023/2024 crop year will decrease by 20% compared to the previous crop year, down to 1.336 million tons due to dry weather reducing coffee productivity and output.

Source: https://baonghean.vn/gia-xang-dau-co-xu-huong-tang-cao-gia-ca-phe-trong-nuoc-on-dinh-o-muc-tot-post287083.html