Gasoline prices today April 11: Continued fluctuations, all plummeting

On the morning of April 11, gasoline prices continued to decline, Brent oil prices decreased by 2.15 USD, equivalent to 3.3%, to 63.33 USD/barrel; WTI oil decreased by 2.28 USD, equivalent to 3.7%, to 60.07 USD/barrel.

Higher tariffs on China could prompt Chinese oil importers to reduce their purchases of U.S. crude, supporting lower oil prices, despite the U.S. suspending for 90 days plans to impose reciprocal tariffs on all trading partners that do not retaliate.

Analysts say higher tariffs on imports from China, the world's largest crude importer , could lead to a surge in US oil supplies. US crude inventories rose by 2.6 million barrels last week. According to Reuters, data from ship tracking company Kpler showed that US crude exports to China fell to 112,000 barrels per day in March, nearly half the 190,000 barrels per day last year.

Gasoline prices fall to four-year low

Analysts have stressed that if these trade disputes continue, the global economy will likely suffer significant damage. On April 10, the US Energy Information Administration lowered its global economic growth forecast, cut its forecast for US and world oil demand this year and next, and warned that tariffs could put significant pressure on oil prices.

Meanwhile, yesterday afternoon (April 10), the Ministry of Finance - Ministry of Industry and Trade adjusted down the prices of all domestic petroleum products in line with the downward trend of world prices. Specifically, the price of E5 RON92 gasoline decreased by VND1,490/liter, RON 95-III gasoline decreased by VND1,710/liter. Similarly, diesel oil decreased by VND1,230/liter, kerosene decreased by VND1,320/liter and fuel oil decreased by VND1,120/kg.

After adjustment, on the morning of April 11, the retail prices of popular petroleum products on the market were as follows: E5 RON 92 gasoline 18,880 VND/liter, RON 95-III gasoline 19,200 VND/liter; diesel 17,240 VND/liter, kerosene 17,410 VND/liter and fuel oil 15,900 VND/kg. The Joint Ministry still maintains not to draw from or spend the price stabilization fund.

With this price adjustment, domestic gasoline prices are now at the same low level as 4 years ago, in 2021 - the second year of the Covid-19 pandemic outbreak globally./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1142025-tiep-tuc-bien-dong-dong-loat-lao-doc-185250411080959086.htm

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