Gasoline price today November 17: Stable weekend

World oil prices

At 6:30 a.m. on November 17, WTI oil price was at $67.02/barrel, the same as the early morning trading price yesterday. Brent oil price was at $71.04/barrel, also unchanged from the previous trading session. Last week, Brent oil price decreased by about 4%, WTI oil price decreased by about 5%.

Gasoline prices are stable today. (Illustration: Minh Duc)

International crude oil prices fell more than 2% in the previous trading session, as investors worried about weaker oil demand in China and the possibility of a slowdown in the pace of interest rate cuts by the US Federal Reserve following the latest macroeconomic data.

In October, Chinese refineries processed 4.6% less crude oil than a year ago due to shutdowns and reduced runs at smaller independent refineries.

Meanwhile, 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 largest crude importer in Asia.

Analysts say headwinds from China remain, and any stimulus they deliver could be overshadowed by the Trump administration’s upcoming 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 gasoline prices

In the operating period on November 14, the price of E5 RON92 gasoline decreased by 292 VND/liter, not higher than 19,452 VND/liter. The price of RON95 gasoline decreased by 247 VND/liter, not higher than 20,607 VND/liter.

Prices of all types of oil also decreased simultaneously. Of which, diesel price decreased by 344 VND/liter, not higher than 18,573 VND/liter. Kerosene price decreased by 306 VND/liter, not higher than 18,988 VND/liter and fuel oil price decreased by 385 VND/kg, not higher than 16,009 VND/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance continued not to set aside or use the petrol price stabilization fund for any products.

Thanh Lam

Source: https://vtcnews.vn/gasoline-price-today-17-11-cuoi-tuan-on-dinh-ar907832.html