Gasoline price increased by nearly 1,300 VND/liter; oil price also increased sharply

The Ministry of Industry and Trade and the Ministry of Finance have just adjusted the retail price of gasoline and oil in today's adjustment period (October 10). The application period is from 3:00 p.m. on October 10, 2024.

Today's gasoline prices, from 3:00 p.m. on October 10, each liter of E5 RON 92 gasoline increased by VND966, RON 95 gasoline increased by VND1,258; oil prices also increased sharply. Photo: VNA

Specifically, the price of E5 RON 92 gasoline increased by VND996/liter to VND19,846/liter; RON 95 gasoline increased by VND1,258/liter to VND21,061/liter.

Diesel 0.05S price: Increased by 1,099 VND/liter, up to 18,500 VND/liter; Kerosene increased by 1,139 VND/liter, up to 18,790 VND/liter; Madut 180CST 3.5S increased by 908 VND/kg, up to 15,911 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 October 3, 2024 and the adjustment period on October 10, 2024 is: 81.934 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (up 5.344 USD/barrel, equivalent to an increase of 6.98%); 88.272 USD/barrel of RON95 gasoline (up 6.462 USD/barrel, equivalent to an increase of 7.90%); 89.678 USD/barrel of kerosene (up 6.174 USD/barrel, equivalent to an increase of 7.39%); 89.974 USD/barrel of 0.05S diesel oil (up 6.156 USD/barrel, equivalent to an increase of 7.34%); 455,618 USD/ton of 180CST 3.5S fuel oil (up 22,594 USD/ton, equivalent to an increase of 5.22%).

On the world market at 6:00 a.m. on October 10, Brent oil price was at 77 USD/barrel, up 0.65 USD/barrel compared to yesterday. WTI oil price was listed at 76.18 USD/barrel, up 0.44 USD/barrel. Oil price increased due to the decrease in US petroleum inventories and the escalating political tension in the Middle East, which still caused concerns about supply disruptions.

Market concerns remain about the possibility of an Israeli attack on Iran's oil infrastructure, even after oil prices fell more than 4% on October 8, due to the possibility of a ceasefire between Hezbollah and Israel, Reuters reported.

An Israeli attack on Iran could push oil prices up by $5 a barrel, said John Kilduff, a partner at Again Capital in New York. Investors are also concerned that slowing growth in China will reduce fuel demand in the world's largest crude importer.

Previously, in the operating period on October 3, the prices of all types of gasoline and oil were specifically adjusted by the Ministry of Industry and Trade - Ministry of Finance, the price of E5 RON92 gasoline decreased by 770 VND/liter, to 18,850 VND/liter; RON95 gasoline decreased by 715 VND/liter, to 19,803 VND/liter.

Prices of all types of oil also decreased, but to a lesser extent. Diesel oil price decreased by 105 VND/liter, not higher than 17,401 VND/liter. Kerosene oil decreased by 222 VND/liter, not higher than 17,651 VND/liter. Fuel oil decreased by 354 VND/kg, not higher than 15,003 VND/kg.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-ngay-10102024-xang-tang-gan-1300-donglit-gia-dau-cung-tang-manh-351480.html