Gasoline price today 1/12: Continue to decrease slightly

Overall, the world oil market had many gloomy developments throughout the week, recording a decrease of more than 3%.

World oil prices

At 6:20 a.m. on December 1, Brent oil price was 72.09 USD/barrel, down 0.94 USD/barrel. WTI oil price was 68.15 USD/barrel, down 0.72 USD/barrel.

According to experts, world oil prices have decreased due to concerns about supply risks and the reduced impact of the Israel-Hezbollah conflict.

Along with that is the prospect of increased supply in 2025 even as oil exporting countries (OPEC) and their allies (OPEC+) are expected to extend the agreement to cut oil production.

World oil prices fell slightly today. (Illustration photo).

After two production hikes, OPEC+ must consider the risk of further weakness in oil prices as output from non-OPEC+ producers could lead to a crude surplus next year, said analyst Ole Hansen from Saxo Bank.

In its monthly report, OPEC said that global oil demand will increase by 1.82 million barrels per day in 2024. In addition, OPEC also lowered its forecast for global oil demand growth in 2025 to 1.54 million barrels per day.

Analysts also forecast WTI oil prices to average $70.69 per barrel in 2025.

Domestic gasoline prices

In the operating period on November 28, the price of E5 RON92 gasoline increased by 497 VND/liter, not higher than 19,840 VND/liter. RON95 gasoline increased by 329 VND/liter, not higher than 20,857 VND/liter.

Diesel price increased by VND268/liter, not higher than VND18,777/liter. Kerosene increased by VND221/liter, not higher than VND19,142/liter and fuel oil price increased by VND111/kg, to VND16,125/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance continued not to set aside or use the petrol price stabilization fund for any products.

PHAM DUY

Source: https://vtcnews.vn/gasoline-price-today-1-12-tiep-tuc-giam-nhe-ar910684.html