Gasoline prices today September 17, 2024: Sharp increase due to the continuous impact of storm Francine
Oil prices today September 17, 2024: World oil prices rise, amid concerns about the impact of Hurricane Francine on oil production in the Gulf of Mexico.
World oil price today September 17, 2024
According to the latest data, today's oil price at 6:52 a.m. on September 17, WTI crude oil price is currently at 70.462 USD per barrel, up 2.64%, while Brent oil price also increased by 1.59%, reaching 72.91 USD per barrel.
Compared with the previous month, WTI and Brent crude oil prices decreased by 4.34% and 6.11%, respectively, and decreased by 21.06% and 21.84% year-on-year.
WTI crude oil futures prices broke above $70, up 1.4% from last week, largely due to ongoing disruptions at oil facilities in the Gulf of Mexico and expectations of interest rate cuts from the United States.
About 20% of Gulf of Mexico oil production remains offline following Hurricane Francine, and investors are hoping for a deeper interest rate cut from the Federal Reserve, which could stimulate the economy and oil demand.
Still, worries remain as data from China showed the industry is in its longest recession since 2021, with investment falling below expectations, raising questions about the ability to meet the 5% growth target. Meanwhile, Libya’s oil exports have also fallen sharply due to a deadlock in UN-led talks.
Domestic gasoline prices today September 17, 2024
Domestic retail prices of gasoline on September 17 are as follows:
- Retail price of E5 RON 92 gasoline is not more than 18,890 VND/liter
- Retail price of RON95-III gasoline is not more than 19,630 VND/liter.
- Retail diesel price is not more than 17,165 VND/liter.
- Retail price of kerosene is not more than 17,790 VND/liter.
- Fuel oil price is not more than 14,467 VND/kg.
Domestic gasoline prices have fallen for the fourth consecutive time, reaching their lowest level this year. Since the beginning of the year, there have been 37 adjustments in gasoline prices, with 17 increases and 20 decreases.
Domestic gasoline prices are currently still affected by fluctuations in global oil prices. International crude oil prices are low due to reduced demand from major countries and gradual recovery in supply.
Retail gasoline prices are expected to be adjusted on the afternoon of September 19 by the Ministry of Finance and the Ministry of Industry and Trade. After a period of decline, global gasoline prices have increased again, which may lead to an increase in domestic prices in the upcoming adjustment period.
