Gasoline price today December 12, 2024: Gasoline price this afternoon may decrease slightly
Gasoline price today December 12, 2024: Domestic gasoline price at the management session this afternoon December 12 is forecasted to decrease slightly, the decrease is less than 200 VND/liter.
World oil prices
WTI crude oil price is currently at 68.97 USD/barrel, up 0.38 USD/barrel, or 0.55% increase. WTI crude oil closed yesterday's trading session at 68.59 USD/barrel and opened today's session at 68.45 USD/barrel.
Brent crude oil is currently at $72.58 per barrel, up $0.39 per barrel, or 0.54 percent. Brent crude closed the previous trading session at $72.19 per barrel and opened today's session at $72.06 per barrel.
Analysts said the rise in oil prices was supported by reports that China will adopt a looser monetary policy in 2025 to boost economic growth. This would be the first easing in 14 years.
In addition, China's crude oil imports in November jumped 14.3% year-on-year, marking the first increase in seven months.
Limiting oil's gains during the session was data from the American Petroleum Institute, which reported that U.S. gasoline, crude and distillate inventories rose last week by 2.852 million barrels, 499,000 barrels and 2.452 million barrels, respectively.
Domestic gasoline prices
Domestic retail prices of gasoline on December 10 are as follows:
E5 RON 92 gasoline is not more than 19,864 VND/liter.
RON 95-III gasoline is not more than 20,563 VND/liter.
Diesel oil not more than 18,382 VND/liter.
Kerosene not more than 18,817 VND/liter.
Fuel oil not exceeding 16,125 VND/kg.
During this period of gasoline price management, the management agency did not set aside the Petroleum Price Stabilization Fund and did not spend the Petroleum Price Stabilization Fund on petroleum products. Since the beginning of the year, gasoline prices have increased 22 times and decreased 26 times, while diesel prices have increased 21 times and decreased 26 times.
According to schedule, the Ministry of Industry and Trade and the Ministry of Finance will announce retail gasoline prices this afternoon (December 12).
Based on the downward trend of crude oil prices in the world, many forecasts suggest that domestic gasoline prices may decrease by 30-100 VND/liter, and diesel prices may decrease by 100-150 VND/liter. If the management agency uses the stabilization fund, gasoline prices may decrease less or remain the same.
According to the forecast from the Vietnam Petroleum Institute (VPI), gasoline prices today may continue to decrease by 0.9 - 1.1%, and oil prices may decrease by 1.6 - 3.3%, if the Ministry of Finance - Industry and Trade does not use the price stabilization fund. VPI forecasts that the retail price of E5 RON92 gasoline may decrease by 220 VND (1.1%) to 19,640 VND/liter, and RON95 gasoline may decrease by 180 VND (0.9%) to 20,380 VND/liter.
Oil prices are also forecast to decrease by 1.6 - 3.3%. Fuel oil may decrease the most, by 3.6%, to VND15,590/kg, followed by kerosene down 2.1% to VND18,408/liter, and diesel down 1.6% to VND18,083/liter. VPI believes that this time, the Ministry of Finance - Ministry of Industry and Trade will not use the gasoline price stabilization fund.
In the adjustment period on December 5, the price of E5 RON92 gasoline increased by VND24/liter to VND19,864/liter, while the price of RON95 gasoline decreased by VND294/liter to VND20,563/liter. The price of diesel oil decreased by VND395/liter to VND18,382/liter, the price of kerosene decreased by VND325/liter to VND18,817/liter, and the price of fuel oil remained the same at VND16,125/kg as in the previous period.
