Gasoline price today September 19, 2024: Slight decrease after 3 consecutive days of increase
Gasoline and oil prices today, September 19, 2024: World oil prices have decreased by more than 1% after 3 consecutive days of increase earlier this week.
World oil prices
WTI crude oil price today is 70.198 USD/barrel, down 1.39%. Brent oil reached 73.001 USD/barrel, up 0.95% compared to yesterday.
This month, WTI and Brent crude oil prices fell 4.74% and 6.02%, respectively. Compared to last year, WTI and Brent crude oil prices fell 21.31% and 20.57%.
World oil prices have increased by $2 per barrel in the past three days due to concerns about supply disruptions caused by storms.
The US central bank cut interest rates by 50 basis points, raising concerns about the job market.
US oil inventories fell 1.6 million barrels to 417.5 million barrels, higher than expected.
Investors are focused on a drop in oil inventories related to Hurricane Francine, which caused oil production to fall and U.S. crude inventories to fall to a one-year low.
The US Energy Information Administration (EIA) reported that US crude oil inventories fell more than expected, down 1.63 million barrels to 417.5 million barrels, much higher than the forecast drop of 500,000 barrels.
Brent crude oil prices have recovered somewhat after falling below $70 a barrel on September 10, the lowest level since December 2021. Expert Bob Yawger commented that oil prices may stabilize around $75 a barrel due to low global refining profits, which reflects low oil demand.
During the session, oil prices also received support from concerns about escalating tensions in the Middle East, which could disrupt supplies, after Hezbollah accused Israel of attacking its members in Lebanon with explosive-laden text messaging devices.
Domestic gasoline prices
Currently, domestic gasoline prices today are trading at the following specific levels:
E5 RON 92 gasoline is not more than 18,890 VND/liter.
RON 95-III gasoline is not more than 19,635 VND/liter.
Diesel oil not more than 17,165 VND/liter.
Kerosene not more than 17,790 VND/liter.
Fuel oil not exceeding 14,467 VND/kg.
Domestic retail gasoline prices will be adjusted in the price management session this afternoon by the Ministry of Finance and Industry and Trade.
After three weeks of decline, world oil prices increased last week, leading to the possibility of an increase in domestic oil prices. This could be the first increase in gasoline prices after the last five adjustments, with gasoline prices expected to increase by VND150 to VND350 per liter.
On the contrary, oil prices may continue to decrease, with an expected decrease of VND120 to VND250 per liter (kg).
