Gasoline price today December 4: Continue to increase

World oil prices

Oil prices rose amid Israel's threat to attack the Lebanese state if a ceasefire with Hezbollah collapses and as investors positioned that OPEC+ will announce an extension of supply cuts this week.

The risk to the ceasefire has some oil traders more worried about tensions in the Middle East, said UBS analyst Giovanni Staunovo.

Oil prices rise again. (Photo: Fox Bussiness).

OPEC+ supplies about half of the world’s oil. The group is looking to gradually ease supply cuts next year. But the prospect of a surplus has weighed on oil prices, with Brent trading nearly 6% below its December 2023 average.

The extension of OPEC+ supply cuts will limit the glut in the market and help the oil market land more gently than most forecast, according to Scott Shelton, energy analyst at TP ICAP.

Brent crude oil prices are trading lower as Russia, Kazakhstan and Iraq increase compliance with production cuts, and there is a possibility that OPEC+ will extend production cuts until April 2025, Goldman Sachs analysts said in a note.

Domestic gasoline prices

In the operating period on November 28, the price of E5 RON92 gasoline increased by 497 VND/liter, not higher than 19,840 VND/liter. RON95 gasoline increased by 329 VND/liter, not higher than 20,857 VND/liter.

Diesel price increased by VND268/liter, not higher than VND18,777/liter. Kerosene increased by VND221/liter, not higher than VND19,142/liter and fuel oil price increased by VND111/kg, to VND16,125/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance continued not to set aside or use the petrol price stabilization fund for any products.

Ngoc Vy

Source: https://vtcnews.vn/gasoline-price-today-4-12-tiep-tuc-di-len-ar911280.html