Gasoline price today May 28: Continue to increase

World oil prices

At 6:00 a.m. on May 28, Brent crude oil was trading at $83.12 per barrel, up $1 from the previous session. WTI crude oil was trading at $78.65 per barrel, up $0.93.

Oil prices rose as investors awaited a meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on June 2 to see whether the group will continue to extend voluntary production cuts.

The OPEC+ meeting has been postponed by a day and will be held online. OPEC+ members will discuss whether to extend voluntary production cuts of 2.2 million barrels per day into the second half of this year.

Oil prices rise again. (Photo: Reuters).

Meanwhile, OPEC+ sources said an extension of oil production cuts is likely.

Recent data from Western economies has changed expectations of interest rate cuts in Europe.

Key European Central Bank (ECB) policymakers said on May 27 that the bank has the ability to cut interest rates as inflation slows but will need time to ease policy.

Domestic gasoline prices

From 3:00 p.m. on May 23, the price of E5 RON92 gasoline increased by 162 VND/liter, not higher than 22,277 VND/liter. The price of RON95 gasoline increased by 78 VND/liter, not higher than 23,213 VND/liter.

Prices of major oils decreased. Of which, diesel oil decreased by 36 VND/liter, down to 19,837 VND/liter. Kerosene price decreased by 6 VND/liter, not higher than 19,902 VND/liter.

Fuel oil price alone increased by 95 VND/kg, not higher than 17,513 VND/kg.

In this period, the regulatory agency continues not to set aside or use the gasoline price stabilization fund for all products.

Ngoc Vy

Source: https://vtcnews.vn/gasoline-price-today-28-5-tiep-tuc-tang-ar873685.html