Gasoline price today September 28, 2024
Recorded on Oilprice at 5:00 a.m. on September 28, 2024 (Vietnam time), WTI oil price was at 68.65 USD/barrel, up 0.75% (equivalent to an increase of 0.51 USD/barrel).
 |
| WTI oil price on the world market early morning September 28 (Vietnam time) |
Similarly, Brent oil price was at 72.45 USD/barrel, up 0.53% (equivalent to an increase of 0.38 USD/barrel).
 |
| Brent oil price on the world market early morning September 28 (Vietnam time) |
Oil prices rose on Tuesday but fell for the week as investors weighed expectations of higher global supplies against new stimulus measures from top crude importer China.
Brent crude futures rose 38 cents, or 0.53 percent, to $71.89 a barrel. U.S. front-month West Texas Intermediate crude futures rose 51 cents, or 0.75 percent, to $68.18.
On a weekly basis, Brent crude fell about 3%, while WTI crude fell about 5%.
China's central bank cut interest rates and pumped liquidity into the banking system on Friday, aiming to get economic growth back to its target of around 5% this year.
More fiscal measures are expected to be announced before China's holiday that begins on October 1 after a meeting of top Communist Party leaders signaled a greater sense of urgency about growing economic challenges.
“ Despite China’s aggressive stimulus measures, concerns about oversupply from OPEC’s production recovery plan have pushed prices lower, ” analysts at Aegis Hedging said in a note on Friday.
The Organization of the Petroleum Exporting Countries and its allies, known collectively as OPEC+, will continue with plans to increase output by 180,000 barrels per day (bpd) per month starting in December, two OPEC+ sources said.
A Financial Times report on Wednesday said the price increase was due to Saudi Arabia's decision to abandon its $100 oil price target and gain more market share.
Saudi Arabia has repeatedly denied targeting a certain oil price and sources from the group told Reuters that the plan to increase output from December did not represent any major change from current policy.
And more barrels could be expected to enter the global market, after rival factions claiming control of Libya’s Central Bank signed a deal to end their dispute on Thursday. The dispute has seen crude exports fall to 400,000 barrels per day (bpd) this month from more than 1 million barrels last year.
In the United States, some operators have begun resuming operations in the Gulf of Mexico after Hurricane Helene made landfall in Florida on Thursday night, with Chevron (CVX.N) opening a new tab on Friday to redeploy staff and restore production at its operating rigs.
Meanwhile, the devastation caused by the storm, considered the seventh strongest to hit Florida, could impact fuel demand in the state, the third-largest gasoline consumer in the United States.
" The aftermath of the storm really hurt demand, enough of the state was devastated that demand was affected, " said John Kilduff, partner at Again Capital in New York.
Meanwhile, US consumer spending rose slightly in August, a sign that the world's largest economy continued to grow in the third quarter as inflation pressures stabilized.
" US inflation data opens the door for the Fed to cut interest rates further ," said UBS analyst Giovanni Staunovo.
Last week, the US Federal Reserve cut interest rates by half a percentage point, kicking off what is expected to be a steady easing of monetary policy.
Setting a floor, Lebanon's interim Prime Minister Najib Mikati said Israeli attacks on Beirut's southern suburbs on Friday showed the country was "not interested" in efforts to bring about a ceasefire.
Rising tensions in the Middle East could pose a threat to global crude oil supplies.
Domestic retail gasoline prices on September 28, 2024 will be applied according to the adjustment session from 3:00 p.m. on September 26 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 19,629 | +679 |
RON 95 gasoline | 20,518 | +756 |
Diesel | 17,506 | +463 |
Oil | 17,873 | +322 |
Fuel oil | 15,357 | +531 |
Specifically, the price of E5 RON 92 gasoline increased by 679 VND/liter, to 19,620 VND/liter; RON 95 gasoline increased by 756 VND/liter, to 20,518 VND/liter.
Diesel 0.05S price: Increased by 463 VND/liter, up to 17,506 VND/liter; Kerosene increased by 322 VND/liter, up to 17,873 VND/liter; Madut 180CST 3.5S increased by 531 VND/kg, up to 15,357 VND/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
 |
| Domestic gasoline prices will be adjusted from 3:00 p.m. on September 26. Illustrative photo |
Since the beginning of 2024, domestic gasoline prices have undergone 38 adjustment sessions, including 19 decreases, 16 increases and 4 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-ngay-2892024-gia-dau-on-dinh-348868.html
Comment (0)