Gasoline price today April 22: World oil price turns to decrease sharply

On the morning of April 22, gasoline and oil prices fell sharply, Brent oil fell by 1.7 USD, equivalent to 2.5%, to 66.26 USD/barrel; WTI oil fell by 1.6 USD, equivalent to 2.5%, to 63.08 USD/barrel.

Thus, world oil prices had a trading session at the beginning of the week down again after a week of increases. According to Reuters, the negotiations between the US and Iran seemed quite positive. That means Iranian crude oil will not be removed from the market, helping to cool down oil prices. Senior analyst Phil Flynn of Price Futures Group commented that it was due to the feeling of risk aversion in the market.

Also according to Reuters, on April 21, the Russian Ministry of Economic Development lowered its forecast for the average Brent oil price in 2025 to $68 per barrel, down 17% from the previous forecast of $81.7 per barrel. In early April, the price of Urals oil fell to its lowest level since 2023, hovering around $53 per barrel. Last week, the price of this product was trading below $60 per barrel.

Domestic gasoline prices may increase at the next Thursday afternoon management session.

Meanwhile, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) still expects to increase production by 411,000 barrels per day starting in May. However, part of this increase may be offset by some countries that have exceeded their quotas.

Domestically, with two consecutive price cuts, gasoline prices are at their lowest in five years. However, with the increase in world prices last week, updated data today shows that gasoline prices at the adjustment session on Thursday afternoon (April 24) may increase again. Importers forecast that the increase for gasoline will be over VND600/liter, and the increase for oil products will fluctuate around VND400/liter/kg. This forecast does not include the Petroleum Price Stabilization Fund.

The balance of the Petroleum Price Stabilization Fund by the end of 2024 according to data announced by the Ministry of Industry and Trade is 6,067.2 billion VND and is currently held at 30 major petroleum traders.

Specifically, the largest balance by the end of 2024 is at Vietnam National Petroleum Group (Petrolimex) at VND 3,080 billion; Ho Chi Minh City Petroleum Company Limited is VND 328.3 billion; Vietnam Oil Corporation (PV Oil) VND 138.4 billion; Military Petroleum Corporation Limited Company VND 299.8 billion; Dong Thap Petroleum Trading Joint Stock Company VND 460.5 billion... The interest arising on the balance of the Petroleum Price Stabilization Fund by the end of 2024 is VND 3.17 billion./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2242025-dau-the-gioi-quay-dau-giam-manh-185250422084421132.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-22-4-dau-the-gioi-quay-dau-giam-manh-a193921.html