Gasoline prices today (April 18): Towards a week of acceleration - Lang Son Newspaper and Radio and Television

World oil prices

Oil prices rose more than 3% at the end of trading on April 17, supported by hopes for a trade deal between the US and the European Union (EU) and growing concerns about supply following new US sanctions aimed at limiting Iran's oil exports.

Since the beginning of the week, Brent and WTI oil prices have both increased by about 5%. Illustration photo: Boston

Brent crude rose $2.11, or 3.2%, to $67.96 a barrel. WTI crude rose $2.21, or 3.54%, to $64.68 a barrel.

Both benchmarks have risen about 5% so far this week, their first weekly gain in three weeks. April 17 was the last settlement day of the week before the Easter holiday and trading volume was thin.

According to Reuters, US President Donald Trump and Italian Prime Minister Giorgia Meloni met in Washington and expressed optimism about resolving trade tensions affecting US-Europe relations.

Reaching a trade deal with the EU could potentially limit the destruction in oil demand caused by Mr Trump’s tariffs, said Bob Yawger, director of energy futures at Mizuho.

Sanctions imposed by the Trump administration on April 16, including on a small China-based oil refinery, have increased pressure on Tehran amid ongoing negotiations over its nuclear program.

The new sanctions are broad in scope, focusing on small Chinese refineries. “This is a potential loss of supply to the market,” said John Kilduff, a partner at Again Capital.

Washington also imposed additional sanctions on several companies and vessels it said were responsible for facilitating the transfer of Iranian oil to China, including part of Iran's submarine fleet.

The U.S. continues to impose heavy sanctions on Iran and impose sanctions on buyers of Iranian oil, analysts at energy consultancy Gelber and Associates said in a note. OPEC+ also provided updates and reassured the market, saying it remains in control with the flexibility to cut production if needed.

Oil prices are set to rise this week after two weeks of decline. Illustration: Caspian News

OPEC said on April 16 that it had received an updated plan for oil production cuts from some member countries to compensate for overproduction under the agreed quota. According to the latest plan, monthly cuts will range from 196,000 barrels per day to 520,000 barrels per day from April this year to June next year, up from the previous range of 189,000 barrels per day to 435,000 barrels per day.

However, OPEC, the International Energy Agency and several banks, including Goldman Sachs and JPMorgan, have cut their forecasts for oil prices and demand growth because of US tariffs and retaliatory actions from other countries.

Domestic gasoline prices

Domestic retail prices of gasoline on April 18 are as follows:

E5 RON 92 gasoline is not more than 18,498 VND/liter.

RON 95-III gasoline is not more than 18,856 VND/liter.

Diesel oil not more than 17,037 VND/liter.

Kerosene not more than 17,184 VND/liter.

Fuel oil not exceeding 15,960 VND/kg.

The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of April 17. Due to the decrease in world gasoline and oil prices last week, domestic gasoline and oil prices also continued to decrease. The price of E5 RON 92 gasoline decreased by 384 VND/liter, RON 95-III gasoline decreased by 351 VND/liter, diesel oil decreased by 206 VND/liter, kerosene decreased by 229 VND/liter. Only fuel oil increased by 58 VND/kg.

In this management period, the joint ministries continue not to set aside or use the Petroleum Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel oil, kerosene, and fuel oil.

Since the beginning of the year, domestic gasoline prices have undergone 16 adjustment sessions, including 7 sessions of decrease, 6 sessions of increase and 3 sessions of opposite price.

Source: https://baolangson.vn/gasoline-price-today-April-18-towards-increasing-toc-week-5044429.html