The world increases, how will the domestic market be adjusted this afternoon?

Today's oil prices, March 20, ended the trading session on March 19, with oil prices increasing slightly. Brent oil prices increased by 22 cents, or 0.31%, to $70.78/barrel. WTI oil prices increased by 26 cents, or 0.39%, to $67.16/barrel. Due to the slight increase in world oil prices last week and the alternating increases and decreases in recent trading sessions, it is likely that domestic oil prices will still be adjusted upward this afternoon.

Gasoline prices today, March 20. At the end of the trading session on March 19, oil prices increased slightly. It is likely that domestic gasoline prices will still be adjusted upward this afternoon. (Photo: Ngoc Ha)

Oil prices rose after data from the US Energy Information Administration (EIA) showed that in the week ending March 14, while US oil inventories increased by 1.7 million barrels to 437 million barrels, three times higher than analysts' expectations of an increase of 512,000 barrels, gasoline and distillate inventories decreased.

Gasoline inventories fell by 530,000 barrels to 240.6 million barrels, less than a quarter of analysts' expectations for a 2.2 million-barrel drop. Distillate inventories, which include diesel and heating oil, fell by 2.8 million barrels to 114.8 million barrels, far exceeding analysts' expectations for a 300,000-barrel drop.

Limiting oil’s upside was the Federal Reserve’s decision to keep interest rates unchanged at 4.25% to 4.5%. However, policymakers signaled that they still expect to cut borrowing costs by 50 basis points later this year amid slowing economic growth and falling inflation.

According to Reuters , US tariffs on Canada, Mexico and China have raised fears of an economic recession and concerns about slowing energy demand. This has put pressure on oil prices.

In the Middle East, the Israeli army has resumed ground operations in the central and southern Gaza Strip. Hamas and Israel accuse each other of violating the ceasefire.

Earlier this week, US President Donald Trump vowed to continue attacking Houthi forces in Yemen and hold Iran responsible for any attacks by the group in the Red Sea that disrupt shipping.

Traders are being forced to refocus on geopolitical risks in the Middle East as Israel and the US launch attacks on Gaza and Yemen, respectively, said Clay Seigle, senior fellow for energy security at the Center for Strategic and International Studies.

Investors are also watching ceasefire talks in Ukraine. Russia has agreed to a proposal by U.S. President Donald Trump for Moscow and Kiev to temporarily halt attacks on each other’s energy infrastructure, a move analysts say will increase the chances of peace and eventually Russian oil re-entering world markets.

However, the prospects for a full ceasefire remain uncertain. Russia and Ukraine have accused each other of violating a new agreement to refrain from attacks on energy targets, just hours after US President Donald Trump and his Russian counterpart Vladimir Putin agreed to it.

Even if a deal is reached, it could still be some time before Russia's energy exports increase significantly, according to Panmure Liberum analyst Ashley Kelty.

Domestic retail prices of gasoline on March 20 are as follows:

E5 RON 92 gasoline is not more than 19,281 VND/liter.

RON 95-III gasoline is not more than 19,649 VND/liter.

Diesel oil not more than 17,898 VND/liter.

Kerosene not more than 18,090 VND/liter.

Fuel oil not exceeding 16,995 VND/kg.

The above domestic retail prices of gasoline and oil will be adjusted by the Ministry of Finance - Industry and Trade in the price management session this afternoon (March 20). Due to the slight increase in world gasoline and oil prices last week and the recent increases and decreases, it is likely that domestic gasoline and oil prices will still increase. Oil prices will increase by about 100-500 VND/liter (kg). Gasoline prices will increase more, 200-700 VND/liter. If as predicted, this will be the first increase in domestic gasoline and oil prices after a hat-trick of decreases.

In the most recent price adjustment, domestic gasoline prices also decreased. E5 RON 92 gasoline price decreased by 680 VND/liter, RON 95-III gasoline decreased by 753 VND/liter, kerosene decreased by 483 VND/liter, diesel decreased by 435 VND/liter, and fuel oil decreased by 155 VND/kg.

Source: https://baoquocte.vn/gia-xang-dau-hom-nay-203-the-gioi-tang-trong-nuoc-chieu-nay-se-duoc-dieu-chinh-the-nao-308225.html