Gasoline and diesel prices today, December 17, 2024: Continuing to fall.

World oil prices

According to information from global oil price data websites such as TradingEconomics and Oilprice, at 6:54 AM (Vietnam time) in New York, both WTI and Brent oil prices fell slightly.

Specifically, WTI crude oil prices fell by $0.60 per barrel, trading around $70.60 per barrel, equivalent to a decrease of nearly 1% compared to yesterday.

Similarly, Brent crude oil prices also fell by $0.60 per barrel to $73.80 per barrel, a decrease of nearly 1% on the day.

Over the past few days, crude oil prices have fluctuated sharply due to OPEC+'s decision to extend production cuts until the end of the first quarter of 2025, significantly impacting the oil market.

In addition, the International Energy Agency's slight upward revision of its crude oil demand outlook for next year has also created significant volatility. Despite this, the agency still believes that oil supply will remain abundant in the near future.

Furthermore, on Wednesday, OPEC revised down its forecast for oil demand growth in 2024 for the fifth consecutive time.

Besides economic factors, tense political developments, particularly the situation in Syria where rebel forces are fighting against the government, have also had a significant impact on global crude oil prices.

Domestic fuel prices

Currently, today's fuel prices (December 17th) are adjusted according to a decision by the Ministry of Industry and Trade and the Ministry of Finance on December 12th. Accordingly, the price of RON 95 gasoline has increased slightly, while the prices of other oil products continue to decrease.

Specifically:

- The retail price of RON 95 gasoline is over 20,596 VND/liter;

- The retail price of E5RON92 gasoline is 19,861 VND/liter;

- The retail price of 0.05S diesel fuel is over 18,255 VND/liter;

- Retail price of kerosene is over 18,566 VND/liter;

- The retail price of 180CST 3.5S fuel oil is over 15,574 VND/kg.

Since the beginning of 2024, gasoline prices have increased 24 times and decreased 25 times. Meanwhile, diesel prices have increased 21 times and decreased 28 times. Compared to the beginning of the year, RON 95-III gasoline has decreased by 1,320 VND/liter, while diesel is lower by 1,110 VND/liter.

The inter-ministerial committee continues to maintain the policy of not allocating funds to the fuel price stabilization fund, similar to previous price adjustments. According to the Ministry of Finance, by the end of the second quarter of 2024, the fund's balance was over 6,000 billion VND, a decrease of 600 billion VND compared to the end of 2023.