Oil, gold and gas prices continue to rise
(Baonghean.vn) - The market on May 25 recorded an increase in prices of many commodities such as oil, gold and gas, creating excitement and prosperity for trading and buying and selling activities.
Indomestic market, the selling prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of May 22 of the Ministry of Finance - Industry and Trade.
Aboveworld market,Gasoline prices today (May 25) continued the increase from the previous 3 sessions.
Specifically, the price of RON 95 gasoline is 21,490 VND/liter. E5 RON 92 gasoline is 20,480 VND/liter. Diesel price increased to 17,950 VND/liter. Kerosene price decreased to 17,960 VND/liter.
Yesterday (May 24), world oil prices increased sharply due to increased demand but decreased supply.
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Gasoline price on May 25. |
According to data from Oilprice, at 10:03 a.m. on May 24 (Vietnam time), Brent crude oil price reached 77.52 USD/barrel, up 0.68 USD, equivalent to 0.88% compared to the previous session. Meanwhile, WTI oil price was at 73.65 USD/barrel, up 0.74 USD, equivalent to 1.01% compared to the previous session.
At 8:44 p.m. on May 24 (Vietnam time), Brent crude oil price reached 76.69 USD/barrel, up 0.7 USD, equivalent to 0.92% compared to the previous session. WTI oil price was at 72.83 USD/barrel, up 0.78 USD, equivalent to 1.08% compared to the previous session.
Analysts say oil prices are rising thanks to increased demand, tight supply and investor optimism.
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| Gasoline prices continue to rise. Photo: Oilprice |
Natural gas pricesin Asia fell to pre-Russia-Ukraine conflict levels in February 2022 as China, one of the world’s biggest fuel consumers, changed its purchasing patterns, including a shift of some supplies from Australia to Russia, where gas is cheaper due to the threat of Western sanctions.
Chinese buyers have now returned to the market but their purchases are modest so far in 2023, with an estimated 5.23 million tonnes expected to arrive in May, little changed from April’s 5.33 million and March’s 5.46 million.
In the domestic market,retail gas pricesThe price of gas has slightly increased since May 1st after 2 consecutive months of sharp decline. Thus, since the beginning of the year, domestic gas prices have decreased 3 times (January, March, April) and increased 2 times in February and May.
Specifically, the retail price of Petrolimex gas cylinders (including VAT) in May 2023 in the Hanoi market is 406,600 VND/12 kg household cylinder; 1,626,300 VND/48 kg industrial cylinder, respectively increasing by 1,360 VND/12 kg cylinder and 5,340 VND/48 kg cylinder (including VAT).
Southern Vietnam LPG Trading Joint Stock Company increased by 167 VND/kg (including VAT), equivalent to 2,000 VND/12 kg cylinder and 7,500 VND/45 kg cylinder compared to last month. The maximum retail gas price is 420,000 VND/12 kg cylinder, about 1,575,000 VND/45 kg cylinder, applied from May 1.
Similarly, Saigon Petro Company (SP gas) also increased the price by VND2,000/12 kg cylinder but the maximum retail price is VND401,000/cylinder.
The reason for the slight increase in domestic gas prices is that the average world gas price contract for May 2023 was at 555 USD/ton, an increase of 5 USD/ton compared to April, so domestic enterprises made adjustments according to the corresponding increase.
