Gasoline price today (April 17): Will domestic gasoline prices decrease slightly? - Lang Son Newspaper and Radio and Television

Gasoline prices today (April 17): World gasoline prices increase; domestic gasoline prices may continue to decrease.

World oil prices

Oil prices rose nearly 2% to a two-week high on Monday amid concerns about global supplies after Washington imposed new sanctions on Chinese importers of Iranian oil and hopes that US-China trade tensions would ease.

Oil prices "pocketed" nearly 2% in the trading session on April 16. Illustration photo: Oilprice

Brent crude rose $1.18, or 1.8 percent, to $65.85 a barrel. WTI crude rose $1.14, or 1.9 percent, to $62.47 a barrel.

The United States has imposed new sanctions on Iran’s oil exports, including on a small refinery based in China, Reuters reported, as the U.S. government restarted talks with Iran over its nuclear program this month.

However, ahead of the next round of talks in Rome, Italy on April 19, Iranian Foreign Minister Abbas Araqchi stressed that Iran's right to enrich uranium is non-negotiable.

In a move to shore up oil prices, OPEC said it had received an updated plan for oil production cuts from some member countries to compensate for overproduction. Under the latest plan, monthly cuts will range from 196,000 barrels per day to 520,000 barrels per day from April 2025 to June 2026, up from the previous range of 189,000 barrels per day to 435,000 barrels per day.

Regarding US petroleum inventories, the US Energy Information Administration said that crude oil inventories increased by 515,000 barrels to 442.9 million barrels in the week ending April 11. In contrast, gasoline and distillate inventories decreased by 2 million barrels and 1.9 million barrels, respectively.

According to Oilprice, oil prices rose supported by a weak US dollar, optimistic US oil inventory data, especially new hopes for easing US-China trade tensions, especially after Bloomberg's report that China may be willing to negotiate trade, depending on specific actions from the administration of US President Donald Trump.

Many factors are supporting oil prices to recover. Illustration photo: News 18

A cooling of the US-China trade war would dampen economic growth prospects and limit the decline in oil demand, said UBS analyst Giovanni Staunovo.

Limiting gains during the session was comments from Federal Reserve Chairman Jerome Powell that the tariff increases announced so far were significantly larger than expected and that the same could be said for the economic impacts, including higher inflation and slower growth.

“The global economy depends largely on whether the US and China can reach a deal and not start a protracted trade war,” said Alex Hodes, chief market strategist at financial services firm StoneX.

Domestic gasoline prices

Domestic retail prices of gasoline on April 17 are as follows:

E5 RON 92 gasoline is not more than 18,882 VND/liter.

RON 95-III gasoline is not more than 19,207 VND/liter.

Diesel oil not more than 17,243 VND/liter.

Kerosene not more than 17,413 VND/liter.

Fuel oil not exceeding 15,902 VND/kg.

The above domestic retail prices of gasoline and oil will be adjusted by the Ministry of Finance - Ministry of Industry and Trade in the price management session this afternoon (April 17). Due to the decrease in world gasoline and oil prices last week and slight fluctuations in the first trading sessions of the week, domestic gasoline and oil prices may continue to decrease. Gasoline prices may decrease by about 330-420 VND/liter; oil prices will decrease less, about 100-300 VND/liter (kg).

In the most recent price adjustment, the price of E5 RON 92 gasoline decreased by VND 1,491/liter, RON 95-III gasoline decreased by VND 1,712/liter, diesel decreased by VND 1,235/liter, kerosene decreased by VND 1,322/liter, and fuel oil decreased by VND 1,124/kg.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-17-4-xang-dau-trong-nuoc-se-giam-nhe-5044271.html