Gasoline price today November 10: World continues to decrease slightly

World oil prices today

At 6:30 a.m. on November 10, WTI oil price was at 73.90 USD/barrel, down 2.33%, equivalent to a decrease of 1.76 USD/barrel. Brent oil price was at 70.43 USD/barrel, down 2.74%, equivalent to a decrease of 1.98 USD/barrel.

According to experts, the cause of this decline comes from the threat of supply shortages caused by Hurricane Rafael gradually subsiding.

Today, November 10, world oil prices continue to decrease. (Illustration photo)

Energy producers have temporarily shut down more than 23% of oil production in the US Gulf Coast in preparation for Hurricane Rafael, according to Reuters. However, the latest forecasts on the storm’s trajectory and intensity have reduced the risk that Rafael poses to oil production.

The threat of supply shortages caused by Hurricane Rafael is easing, said Alex Hodes, an analyst at brokerage StoneX.

In addition, the latest economic stimulus packages from China, one of the world's largest oil consumers, have not met expectations. Although China has announced financial easing measures to support local governments to repay debts, experts say that these measures have had a negligible impact on energy demand.

Based on the above analysis, experts have concluded that in the coming time, world oil prices may continue to be affected by factors such as political and economic fluctuations, global economic fluctuations, and geopolitical factors. In addition, the relationship between oil supply from the Middle East and demand in major economies such as the US and China are also key factors affecting oil prices.

Domestic gasoline prices

In the operating period on November 7, the price of E5 RON92 gasoline increased by 336 VND/liter, not higher than 19,744 VND/liter; the price of RON95 gasoline increased by 351 VND/liter, not higher than 20,854 VND/liter.

Meanwhile, the prices of many types of oil also increased: Diesel oil price increased by 769 VND/liter to 18,917 VND/liter; kerosene price increased by 461 VND/liter to 19,294 VND/liter. In contrast, fuel oil price decreased by 67 VND/kg, not higher than 16,394 VND/kg.

In this period, the regulatory agency continues not to set aside or use the gasoline price stabilization fund for any products.

PHAM DUY

Source: https://vtcnews.vn/gasoline-price-today-10-11-the-gioi-tiep-tuc-giam-nhe-ar906504.html