Gasoline price today 9/19/2024
Recorded on Oilprice at 5:00 a.m. on September 19, 2024 (Vietnam time), WTI oil price was at 70.25 USD/barrel, down 0.93% (equivalent to a decrease of 0.66 USD/barrel).
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WTI oil price on the world market early morning September 19 (Vietnam time) |
Similarly, Brent oil price was at 73.65 USD/barrel, down 0.07% (equivalent to a decrease of 0.05 USD/barrel).
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Brent oil price on the world market early morning September 19 (Vietnam time) |
Oil prices fell on Tuesday as the Federal Reserve's announcement of an interest rate cut raised concerns about the health of the U.S. economy, while investors largely shrugged off a drop in crude inventories that they blamed on short-term weather impacts.
The U.S. central bank cut interest rates by half a percentage point, a much larger reduction in borrowing costs than many expected, raising concerns that the central bank could see the job market slow. Rate cuts typically boost economic activity and energy demand, but a weaker labor market can slow the economy.
Meanwhile, the Energy Information Administration (EIA) said crude oil inventories fell by 1.6 million barrels to 417.5 million barrels in the week ended September 13, compared with analysts' expectations in a Reuters poll for a decrease of 500,000 barrels.
A drop in crude oil production that has pushed inventories to a one-year low has helped limit the fall in prices.
While the EIA report was more supportive of oil prices than the American Petroleum Institute data released Tuesday, Bob Yawger, director of energy futures at Mizuho Bank, said investors could link the drop to Hurricane Francine, a short-lived event.
“The problem with the ‘Hurricane’ report is that the numbers tend to backfire in the opposite direction in the following week’s report, once the oil infrastructure is back online,” Yawger said.
“ The end of peak summer demand and a negative shift in trader sentiment have contributed to the price decline, although potential conflicts in the Middle East still pose a risk of supply disruption, ” said Mazen Salhab, MENA chief market strategist at BDSwiss.
Domestic retail gasoline prices on September 19, 2024 will be applied according to the adjustment session from 3:00 p.m. on September 12 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 18,890 | -1.089 |
RON 95 gasoline | 19,635 | -1.192 |
Diesel | 17,165 | -927 |
Oil | 17,790 | -934 |
Fuel oil | 14,467 | -688 |
Specifically, the price of E5 RON 92 gasoline decreased by VND1,089/liter, down to VND18,890/liter; RON 95 gasoline decreased by VND1,192/liter, down to VND19,635/liter.
Price of diesel 0.05S: down 927 VND/liter, down to 17,165 VND/liter; Kerosene down 934 VND/liter, down to 17,790 VND/liter; Madut 180CST 3.5S down 688 VND/kg, down to 14,467 VND/kg.
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.
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| Domestic gasoline prices will be adjusted from 3:00 p.m. on September 12. Illustrative photo |
According to Reuters, in its recently released monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand will increase by 2.03 million barrels per day this year, down from the organization's forecast of 2.11 million barrels per day growth last month.
However, contrary to OPEC's forecast, the US Energy Information Administration (EIA) forecasts that global oil demand is expected to average about 103.1 million barrels per day in 2024, 200,000 barrels per day higher than the previous forecast of 102.9 million barrels per day.
Since the beginning of 2024, domestic gasoline prices have undergone 36 adjustment sessions, including 19 decreases, 15 increases and 3 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-1992024-dong-loat-giam-346838.html
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