Gasoline price today December 17, 2024: Continuously decreasing

World oil prices

According to information from world oil price data sites such as TradingEconomics and Oilprice, at 6:54 a.m. (Vietnam time) in New York, both WTI and Brent oil prices decreased slightly.

Specifically, WTI oil price decreased by 0.6 USD/barrel, trading around 70.6 USD/barrel, equivalent to a decrease of nearly 1% compared to yesterday.

Similarly, Brent oil price also decreased by 0.6 USD/barrel, down to 73.8 USD/barrel, also down nearly 1% on the day.

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

In addition, the International Energy Agency's slight upward revision of its outlook for crude oil demand next year has also created strong fluctuations. However, the agency still believes that oil supplies will be abundant in the coming period.

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

Not only economic factors, tense political developments, especially the situation in Syria when rebel forces fought against the government, have also had a significant impact on global crude oil prices.

Domestic gasoline prices

Currently, today's gasoline price on December 17 is adjusted according to the joint decision of the Ministry of Industry and Trade - Ministry of Finance on December 12, accordingly, the price of RON 95 gasoline increased slightly, while oil products continued to decrease.

Specifically:

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

- Retail price of E5RON92 gasoline is at 19,861 VND/liter;

- Retail price of 0.05S diesel is over 18,255 VND/liter;

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

- Retail price of 180CST 3.5S fuel oil is more than 15,574 VND/kg.

Since the beginning of 2024, gasoline prices have increased 24 times and decreased 25 times. Meanwhile, oil prices have increased 21 times and decreased 28 times. Compared to the beginning of the year, RON 95-III gasoline has decreased by VND1,320/liter, while diesel oil is lower by VND1,110/liter.

The joint ministries still maintain the practice of not setting aside the Petroleum Price Stabilization Fund, similar to previous management periods. According to the Ministry of Finance, by the end of the second quarter of 2024, the fund's balance will be more than VND6,000 billion, a decrease of VND600 billion compared to the end of 2023.