Gasoline prices today August 20: Mixed increases and decreases
World oil prices today, August 20, 2024, regained a slight increase at the beginning of the trading session, but the downward trend still prevailed.
In the world market, WTI oil price reached 73.69 USD/barrel, up 0.03 USD. Meanwhile, Brent oil price was trading at 77.6 USD/barrel, down 2.08 USD/barrel at 6:37 a.m. on August 20, Vietnam time.
The oil market is being affected by peace talks between Israel and Hamas.
US Secretary of State Antony Blinken stressed that the latest US diplomatic effort could be the last chance to reach a ceasefire agreement in Gaza and called on all parties involved to do their best.
Hiroyuki Kikukawa, president of NS Trading, said concerns about falling demand in China and the end of the driving season in the US had put pressure on oil prices.
Tensions in the Middle East and the Russia-Ukraine conflict are supporting the oil market by increasing supply risks.
Investors are waiting for signs from the US Federal Reserve on its next interest rate decision.
Positive economic data from the US, including higher-than-expected retail sales and a drop in the number of people filing for unemployment benefits, helped support oil prices.
Domestic retail prices of gasoline on August 20 are as follows:
E5 RON 92 gasoline is not more than 20,882 VND/liter.
RON 95-III gasoline is not more than VND 21,852/liter.
Diesel oil not more than 19,230 VND/liter.
Kerosene not more than 19,572 VND/liter.
Fuel oil not exceeding 16,245 VND/kg.
In the most recent adjustment, gasoline prices increased after 5 consecutive decreases. E5 RON 92 gasoline price increased by 167 VND/liter, RON 95-III gasoline increased by 179 VND/liter, diesel increased by 89 VND/liter, kerosene increased by 161 VND/liter, and fuel oil increased by 217 VND/kg.
The above domestic retail price of gasoline and oil will be adjusted by the Ministry of Finance and the Ministry of Industry and Trade in the price management session on the afternoon of August 22. Last week, oil prices fluctuated in opposite directions with increases and decreases of less than 20 cents. Therefore, the fluctuations of gasoline and oil prices in the coming sessions will affect the increase and decrease of domestic gasoline and oil prices.
