Petrol prices today 11/17/2024: Experts say fuel retailers are expected to cut prices of petroleum products next week following new developments.
Gasoline price today November 17, 2024
Recorded on Oilprice at 5:00 a.m. on November 17, 2024 (Vietnam time), WTI oil price was at 66.95 USD/barrel, down 2.45% (equivalent to a decrease of 1.68 USD/barrel).
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| WTI oil price on the world market in the early morning of November 17, 2024 (Vietnam time) |
Similarly, Brent oil price was at 71.05 USD/barrel, down 2.09% (equivalent to a decrease of 1.52 USD/barrel).
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| Brent oil price on the world market early morning of November 17, 2024 (Vietnam time) |
International crude oil prices fell more than 2 percent in the previous trading session as investors worried about weaker Chinese oil demand and a possible slowdown in the pace of interest rate cuts by the US Federal Reserve following the latest macroeconomic data.
China's refineries processed 4.6 percent less crude oil year-on-year in October due to plant closures and reduced operating rates at smaller independent refineries, data from the National Bureau of Statistics showed on Friday.
In addition, the country's factory output growth slowed last month and demand in the property sector showed no signs of easing, adding to investors' concerns about the economic and industrial health of the world's biggest crude importer in Asia.
Analysts say headwinds from China remain persistent and any stimulus they deliver could be affected by the Trump administration’s upcoming round of tariffs, which are expected to impose steep tariffs on trade with China.
Crude oil production is expected to rise this year, analysts said, compared with previous forecasts. U.S. oil production could rise to 13.23 million barrels per day, while global production could reach 102.6 million barrels per day. Increased production, coupled with lower demand, is likely to limit crude's gains.
Domestic retail gasoline prices on November 17, 2024 will be applied according to the adjustment session from 3:00 p.m. on November 14 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 19,452 | -292 |
RON 95 gasoline | 20,607 | -247 |
Diesel | 18,573 | -344 |
Oil | 18,988 | -306 |
Fuel oil | 16,009 | -385 |
Specifically, the price of E5 RON 92 gasoline decreased by VND292/liter, down to VND19,452/liter; RON 95 gasoline decreased by VND247/liter, down to VND20,607/liter.
Diesel 0.05S price: Decreased by 344 VND/liter, down to 18,573 VND/liter; Kerosene decreased by 306 VND/liter, down to 18,988 VND/liter; Mazut 180CST 3.5S decreased by 385 VND/kg, down to 16,009 VND/kg.
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| Gasoline price today November 17, 2024. Illustration photo |
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
Thus, from the beginning of 2024 to now, domestic gasoline prices have undergone 45 adjustment sessions, including 22 decrease sessions, 18 increase sessions and 6 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-17112024-du-kien-giam-359206.html
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