World oil prices
At 6:00 a.m. on March 15, Brent crude oil was trading at $85.42 per barrel, up $1.39 from the previous session. WTI crude oil was trading at $81.26 per barrel, up $1.54.
Oil prices rose sharply on high demand in the US and the possibility of supply disruptions after Russian refineries were repeatedly attacked.
In addition, the International Energy Agency (IEA) predicted a tighter market in 2024 and raised its view on oil demand growth this year.
Oil prices continue to rise. (Illustration photo: Chinhphu.vn).
The IEA raised its view on oil demand growth in 2024 for the fourth time since November when Houthi attacks disrupted shipping in the Red Sea but warned that "the global economic slowdown acts as an additional headwind for oil use".
The energy watchdog forecasts demand will rise by 1.3 million barrels per day (bpd) in 2024, up 110,000 bpd from last month but still below last year's growth of 2.3 million bpd.
The IEA also cut its 2024 supply forecast and now expects oil supply to rise by 800,000 barrels per day to 102.9 million barrels per day this year.
Domestic gasoline prices
From 3:00 p.m. on March 14, the price of E5 RON92 gasoline decreased by VND22/liter, to VND22,290/liter. The price of RON95 gasoline decreased by VND14/liter, not higher than VND23,549/liter.
Oil prices increase or decrease depending on the type. Of which, diesel oil price increases by 78 VND/liter, not higher than 20,549 VND/liter; kerosene increases by 97 VND/liter, not higher than 20,706 VND/liter; fuel oil increases by 299 VND/kg, not higher than 16,432 VND/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance decided to set up a price stabilization fund for fuel oil at 300 VND/kg.
At the same time, no price stabilization fund will be set aside for E5 RON92 gasoline, RON95 gasoline, diesel oil and kerosene.
The management agency also does not use the gasoline price stabilization fund for goods.
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