Gasoline price today 11/2: Continue to increase slightly

World oil prices

At 6:00 a.m. on November 2, Brent oil price was at 72.94 USD/barrel, up 0.4%, equivalent to an increase of 0.29 USD/barrel. WTI oil price was at 69.33 USD/barrel, up 0.33%, equivalent to an increase of 0.23 USD/barrel.

Oil prices continued to rise today due to information that Iran is preparing to retaliate against Israel from Iraq in the coming days.

Israeli intelligence believes that Iran is preparing to attack Israel from Iraqi territory in the coming days, possibly before the US presidential election on November 5.

Iran and Israel have engaged in a series of tit-for-tat attacks in the broader Middle East war that began with the Gaza war. Previous Iranian airstrikes on Israel on October 1 and in April were largely repelled, causing only minor damage.

Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC) and produced about 4 million barrels of oil per day in 2023, according to data from the US Energy Information Administration.

Analysts and US government reports also said Iran is expected to export about 1.5 million barrels of oil per day in 2024, up from an estimated 1.4 million barrels per day in 2023.

Gasoline prices were adjusted down on the afternoon of October 31 (Illustration photo: Minh Duc).

Oil prices were also supported by expectations that OPEC+ may delay its planned December oil output increase by a month or more due to concerns about weak oil demand and rising supplies. A decision could come as early as next week.

Domestic gasoline prices

In the operating period on October 31, the price of E5 RON92 gasoline decreased by VND284/liter, not higher than VND19,408/liter; RON95 gasoline decreased by VND391/liter, not higher than VND20,503/liter.

In contrast to gasoline prices, oil prices increased simultaneously. Specifically, diesel increased by 91 VND/liter, not higher than 18,148 VND/liter; kerosene increased by 263 VND/liter, not higher than 18,833 VND/liter and fuel oil increased by 232 VND/kg, not higher than 16,461 VND/kg.

In this period, the regulatory agency continues not to set aside or use the gasoline price stabilization fund for E5 RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

PHAM DUY

Source: https://vtcnews.vn/gasoline-price-today-2-11-tiep-tuc-tang-nhe-ar905230.html