Domestic gasoline prices today February 12, 2024
In the domestic market, the selling prices of gasoline and oil today, February 12, are applied according to the prices at the management session on the afternoon of February 8 of the Ministry of Finance - Industry and Trade.
Accordingly, retail prices of gasoline and oil have all been adjusted down. Notably, the price of RON 95 gasoline has dropped sharply, to 23,000 VND/liter.
Specifically, the price of E5 gasoline dropped to 22,120 VND/liter. The price of RON 95 gasoline dropped to 23,260 VND/liter.
Diesel price dropped to 20,700 VND/liter. Kerosene retail price dropped to 20,580 VND/liter.
Retail price of gasoline today:
| Item | Price from February 8 (unit: VND/liter) | Compared to previous period |
| Gasoline RON 95-III | 23,260 | - 900 |
| Gasoline E5 RON 92-II | 22,120 | - 790 |
| Diesel | 20,700 | - 290 |
| Oil | 20,580 | - 340 |
World oil prices today February 12, 2024
On the world market, gasoline prices today, February 12, slightly decreased after increasing sharply last week.
According to data from Oilprice, at 9:31 a.m. on February 12 (Vietnam time), Brent oil was trading at $81.82 per barrel, down $0.37, or 0.45%, from the previous session. WTI oil was at $76.45 per barrel, down $0.39, or 0.51%, from the previous session.
Last week, world oil prices reversed sharply after falling sharply the week before.
World oil prices increased in all trading sessions last week. The tense conflict situation in the Middle East was the main factor driving the sharp increase in oil prices last week.
Oil prices rose nearly 1% in the first trading session of the week on concerns that escalating tensions in the Middle East and Russia's military campaign in Ukraine could limit global supplies.
Oil prices continued to rise slightly in the second trading session. Oil prices increased after the US Department of Energy said crude oil production would increase less than expected. Limiting oil prices' gains during the session was data from the American Petroleum Institute showing that US crude oil inventories increased by only 674,000 barrels in the week to February 2, much lower than analysts' expectations for an increase of about 2.1 million barrels.
Oil prices rose nearly 1% on Tuesday, supported by a larger-than-expected drop in U.S. fuel inventories and continued tensions in the Middle East.
Oil prices continued to rise in the fourth trading session of the week. In this session, oil prices increased by more than 3%.
Oil prices rose on fears of a wider conflict in the Middle East after Israeli Prime Minister Benjamin Netanyahu rejected a ceasefire offer from Hamas and the release of hostages held in the Gaza Strip. Israeli forces even bombed the southern Gaza border city of Rafah after Prime Minister Benjamin Netanyahu rejected a proposal to end the hostilities.
Oil prices rose nearly 1% in the final trading session of the week. Concerns about supply from the Middle East after Israel resumed airstrikes on the Gaza Strip continued to support the rise in oil prices in this trading session.
Overall, last week, world oil prices increased by more than 6%, reversing the sharp decline of the previous week.
Closing last week, Brent oil price was fixed at 82.19 USD/barrel while WTI oil price ended the week at 76.84 USD/barrel.
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