Gasoline price today August 22, 2024: Gasoline price is forecast to decrease this afternoon
Gasoline price today August 22, 2024: The gasoline price forecast model of the Vietnam Petroleum Institute (VPI) forecasts that in the operating session this afternoon, August 22, gasoline prices will decrease slightly by 0.4 - 1.5%.
World oil price August 22, 2024
At 5:00 a.m. on August 22, 2024, Vietnam time, WTI crude oil price stood at 71.94 USD/barrel, down 1.69% compared to before, equivalent to a decrease of 1.24 USD/barrel.
Brent oil price also decreased, reaching 76.11 USD/barrel, down 1.41%, or 1.09 USD/barrel.
The drop in oil prices is believed to be due to the US government's release of new employment figures, which showed that the number of new jobs created in the year to March was much lower than the initial figures, according to the US Department of Labor.
The US Energy Information Administration (EIA) reported that crude oil, gasoline and distillate inventories fell in the week ending August 16.
Specifically, crude oil inventories fell 4.6 million barrels to 426 million barrels, more than analysts' forecast of a decrease of 2.7 million barrels.
Gasoline inventories fell 1.6 million barrels and distillate inventories fell 3.3 million barrels.
At the same time, economic problems in China also affected profits from oil processing and fuel demand, causing them to decline.
Domestic gasoline prices August 22, 2024
Domestic retail prices of gasoline on the morning of August 22 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.
The above domestic retail prices of gasoline and oil will be adjusted by the Ministry of Finance and the Ministry of Industry and Trade in the price management session this afternoon. The Vietnam Petroleum Institute forecasts that gasoline and oil prices will decrease slightly from 0.4% to 1.5%.
The price of E5 RON92 gasoline may decrease by VND254, down to VND20,626/liter. The price of RON95 gasoline may decrease by VND333, down to VND21,517/liter.
Fuel oil price is expected to decrease by 1.1% to VND16,061/kg. Diesel oil price is expected to decrease by 0.8% to VND19,083/liter. Kerosene price is expected to decrease by 0.4% to VND19,501/liter.
This forecast is based on the assumption that the petroleum price stabilization fund is not used during this operating period.
