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| Gasoline prices today, June 22: World prices increased for two reasons, domestic gasoline prices have undergone 18 adjustments. (Source: Reuters) |
World oil prices rose more than $1/barrel in the session on June 21, in the context of US corn and soybean prices rising to multi-month highs, raising speculation that global crop production shortages could reduce biofuel blends and increase oil demand.
At the close of the session, Brent crude oil rose $1.22 (1.6%) to $77.12 a barrel, while U.S. West Texas Intermediate (WTI) crude oil rose $1.34 (1.9%) to $72.53 a barrel. Both key oil prices hit two-week highs in the previous session.
Another factor supporting the oil market was the US dollar's decline against a basket of major currencies on June 21, after US Federal Reserve Chairman Jerome Powell implied that the Fed was close to achieving its policy goals.
A cheaper dollar makes oil traded in the currency more attractive to investors holding other currencies, thereby boosting demand.
According to sources, the market cited data from the American Petroleum Institute on June 21 that showed US crude oil inventories fell last week, while gasoline inventories rose. According to these sources, crude oil inventories fell by about 1.2 million barrels in the week ended June 16.
Domestic retail prices of gasoline on June 22 are as follows:
E5 RON 92 gasoline is not more than 20,878 VND/liter. RON 95 gasoline is not more than 22,015 VND/liter. Diesel oil not more than 18,174 VND/liter. Kerosene not more than 17,956 VND/liter. Fuel oil not exceeding 14,587 VND/kg. |
The above domestic gasoline prices were adjusted at the joint price management session of the Ministry of Finance - Industry and Trade on the afternoon of June 21, with gasoline prices remaining unchanged, diesel and kerosene prices increasing slightly by less than 150 VND/liter, while mazut prices decreased by 132 VND/kg.
In this management period, the joint ministries decided to continue to reduce the allocation level of the Price Stabilization Fund for all petroleum products and continue not to spend the Price Stabilization Fund for all petroleum products.
Since the beginning of the year, gasoline prices have undergone 18 adjustments, of which 9 have increased, 6 have decreased, and 3 have remained unchanged.
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