Domestic gasoline prices today April 1, 2024

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

Accordingly, retail prices of petroleum products are managed in the direction of increasing gasoline prices and decreasing oil prices.

Specifically, the price of E5 gasoline was raised to 23,620 VND/liter. The price of RON95 gasoline increased to 24,810 VND/liter.

On the contrary, diesel price was adjusted down to 20,690 VND/liter. Kerosene price dropped to 20,870 VND/liter.

Retail price of gasoline today:

Item Price from March 28 (unit: VND/liter) Compared to previous period
Gasoline RON 95-III 24,810 + 530
Gasoline E5 RON 92-II 23,620 + 410
Diesel 20,690 - 320
Oil 20,870 - 390

World oil prices today April 1, 2024

In the world market, gasoline prices today, April 1, tend to increase following the upward trend from last week.

Data from Oilprice shows that at 8:27 a.m. on April 1 (Vietnam time), Brent crude oil was trading at $87.02 per barrel, up $0.02, or 0.02%, from the previous session. WTI crude oil was at $83.24 per barrel, up $0.07, or 0.08%, from the previous session.

World oil prices last week recorded a strong increase.

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 are likely to increase. Photo: Businesstoday

At the end of the first trading session of the week, Brent oil prices increased by 1.55%, WTI oil prices increased by 1.64%. The increase in oil prices in this session was driven by concerns about reduced supply after Russian oil refineries were repeatedly attacked by drones, causing a 7% reduction in refining capacity.

Oil prices fell slightly on Monday after the Russian government ordered companies to cut production in the second quarter to meet the target of 9 million barrels per day to comply with commitments with the Organization of the Petroleum Exporting Countries and its partners (OPEC +). In addition, oil prices fell due to an unexpected sharp increase in US oil inventories in the week ending March 22.

Oil prices continued to slide slightly in the third trading session due to a stronger US dollar and increased US crude and gasoline inventories.

Oil prices regained momentum in the fourth and final trading session of the week. Oil prices rose by about 2% in this session due to the prospect of continued OPEC+ production cuts and the US tightening the number of drilling rigs.

Analysts are increasingly confident that OPEC+ will maintain production cuts through the end of the year, which could help oil prices hit $90 a barrel sooner than expected, according to Oilprice.

Thus, 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.

Today's oil price, March 30, 2024, remains high . Today's oil price, March 30, 2024, remains high in the international market. Brent oil price is kept at 87 USD/barrel, WTI oil price is up to 83 USD/barrel.