Gasoline price today October 26: Up more than 2%

Oil prices today, October 26, ending the last trading session of the week (October 25), oil prices "climbed" more than 2%.

Oil prices today, October 26, ending the last trading session of the week (October 25), oil prices "climbed" more than 2%. (Source: Oilprice)

Brent crude rose $1.67, or 2.25 percent, to $76.05 a barrel. WTI crude rose $1.59, or 2.27 percent, to $71.78 a barrel.

For the week, Brent oil prices increased by 4%, WTI oil prices increased by 3.7%.

It seems like the market is in a wait-and-see mode until some of the questions about Israel, the conflict and the election are answered, said Phil Flynn, senior analyst at Price Futures Group.

According to this analyst, the election is creating uncertainty in many markets, making many people cautious, not ready to make big commitments because of the possibility of volatility.

Investors around the world are flocking to the US dollar, betting on increased volatility ahead of the US presidential election on November 5, as well as elections in Japan, interest rate decisions by three major central banks and the UK government's new budget presentation.

Geopolitics is the main driver of markets, according to Tim Snyder, chief economist at Matador Economics.

The situation in the Middle East remains “tense”. Israel continues to launch airstrikes in Lebanon, even at a border crossing with Syria.

US Secretary of State Antony Blinken said there was an urgent need to find a diplomatic solution to end the conflict between Israel and Hezbollah in Lebanon, and called for the protection of civilians.

US and Israeli officials are expected to restart talks on a ceasefire and the release of hostages in Gaza in the coming days.

Investors are still waiting for Israel’s response to Iran’s missile attack on Oct. 1. The response could include strikes on Tehran’s oil infrastructure, although media reports last week suggested Israel would attack military targets rather than nuclear or oil.

Traders are also looking for more clarity on China's stimulus policies to see if it can boost oil demand.

On October 24, Goldman Sachs maintained its forecast for Brent oil prices in 2025 at $70-$85 per barrel. Meanwhile, on October 25, Bank of America (BoA) forecast that Brent oil prices will average $75 per barrel next year.

Domestic retail prices of gasoline on October 26 are as follows:

E5 RON 92 gasoline is not more than 19,692 VND/liter.

RON 95-III gasoline is not more than 20,894 VND/liter.

Diesel oil not more than 18,057 VND/liter.

Kerosene not more than 18,570 VND/liter.

Fuel oil not exceeding 16,229 VND/kg.

The retail price of domestic gasoline and oil was adjusted by the Ministry of Finance - Ministry of Industry and Trade in the price management session on the afternoon of October 24. The price of E5 RON 92 gasoline decreased by 38 VND/liter, RON 95-III gasoline decreased by 68 VND/liter, diesel oil decreased by 264 VND/liter, kerosene decreased by 57 VND/liter. Only mazut oil increased by 139 VND/kg. Thus, this is the second consecutive price reduction of domestic gasoline prices.

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

Source: https://baoquocte.vn/gia-xang-dau-hom-nay-2610-leo-doc-hon-2-291446.html