Gasoline prices drop sharply, RON 95 gasoline falls below 20,000 VND/liter

The Ministry of Finance and the Ministry of Industry and Trade have just adjusted the retail price of gasoline and oil in the adjustment period today (September 12). The application time is from 3:00 p.m. on September 12, 2024.

Today's gasoline prices, from 3:00 p.m. on September 12, each liter of E5 RON 92 gasoline decreased by VND 1,089/liter, RON 95 gasoline decreased by VND 1,192/liter; oil prices also decreased.

Specifically, the price of E5 RON 92 gasoline decreased by VND1,089/liter, down to VND18,890/liter; RON 95 gasoline decreased by VND1,192/liter, down to VND19,635/liter.

Price of diesel 0.05S: down 927 VND/liter, down to 17,165 VND/liter; Kerosene down 934 VND/liter, down to 17,790 VND/liter; Madut 180CST 3.5S down 688 VND/kg, down to 14,467 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.

According to the Ministry of Industry and Trade, the average price of finished petroleum products in the world between the price adjustment period on September 5, 2024 and the adjustment period on September 12, 2024 is: 76,510 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 5,614 USD/barrel, equivalent to a decrease of 6.84%); 80,594 USD/barrel of RON95 gasoline (down 5,720 USD/barrel, equivalent to a decrease of 6.63%); 84,196 USD/barrel of kerosene (down 4,764 USD/barrel, equivalent to a decrease of 5.36%); 82,250 USD/barrel of 0.05S diesel oil (down 4,716 USD/barrel, equivalent to a decrease of 5.42%); 412,684 USD/ton of 180CST 3.5S fuel oil (down 21,538 USD/ton, equivalent to a decrease of 4.96%).

World oil prices increased across the board in today's trading session, September 12 (Vietnam time). At 10:30 a.m. (Vietnam time), WTI crude oil was at $67.64/barrel, up $0.31/barrel, or 0.46%. WTI crude oil closed the previous trading session at $67.31/barrel and opened today's session at $67.33/barrel.

Brent crude oil was at $71.00 a barrel, up $0.39 a barrel, or 0.55 percent. Brent crude oil closed the previous session at $70.61 a barrel and opened today at $70.75 a barrel.

Concerns about Hurricane Francine disrupting output in the United States, the world's largest producer, supported oil prices, analysts said.

In addition, according to Reuters, in its recently released monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand will increase by 2.03 million barrels per day this year, down from the organization's forecast of 2.11 million barrels per day growth last month.

However, contrary to OPEC's forecast, the US Energy Information Administration (EIA) forecasts that global oil demand is expected to average about 103.1 million barrels per day in 2024, 200,000 barrels per day higher than the previous forecast of 102.9 million barrels per day.

In the most recent gasoline price adjustment period (September 5), the prices of gasoline and oil were jointly adjusted downward by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted down by 360 VND/liter, selling price to 19,970 VND/liter. The price of RON 95 gasoline decreased by 280 VND/liter, selling price to 20,820 VND/liter.

Similarly, diesel price also decreased by 380 VND/liter, down to 18,090 VND/liter. Kerosene price decreased by 340 VND/liter, down to 18,720 VND/liter.

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.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-ngay-1292024-gia-xang-giam-sau-xang-ron-95-ve-duoi-20000-donglit-345370.html