Gasoline prices today September 27, 2024: Sharp price increase across the board
Gasoline prices today, September 27, 2024: All prices increased sharply after the price adjustment from the Ministry of Industry and Trade on the afternoon of September 26. This year, gasoline prices increased 19 times and decreased 20 times.
World oil prices
The prices of WTI crude oil and Brent oil on the world market today, September 27, were 67.437 USD/barrel and 71.337 USD/barrel respectively, down from yesterday.
Compared to the previous month, WTI crude oil prices decreased by 10.73%, while Brent crude oil prices decreased by 9.27%. Compared to the same period last year, WTI and Brent crude oil prices decreased by 26.15% and 22.77%, respectively.
Saudi Arabia plans to increase oil production, no longer pursuing the target of oil price of 100 USD/barrel.
Libya reaches deal to appoint new central bank governor, which could ease oil revenue crisis and boost exports.
There are concerns about oil demand in China, despite monetary support measures to stimulate the economy.
US crude oil inventories fell by 4.5 million barrels, more than expected, and unrest in the Middle East could affect oil supplies.
Domestic gasoline prices
On the afternoon of September 26, retail gasoline prices were adjusted up according to the announcement from the Ministry of Finance and the Ministry of Industry and Trade, effective from 3:00 p.m. the same day.
E5RON92 gasoline: No higher than VND 19,620/liter (an increase of VND 679/liter compared to the current base price), VND 898/liter lower than RON95-III gasoline;
RON95-III gasoline: Not higher than VND 20,518/liter (increase of VND 756/liter compared to current base price);
Diesel 0.05S: Not higher than VND 17,506/liter (increase of VND 463/liter compared to current base price);
Kerosene: Not higher than VND 17,873/liter (an increase of VND 322/liter compared to the current base price);
Mazut oil 180CST 3.5S: Not higher than 15,357 VND/kg (increase 531 VND/kg compared to current base price).
During this operating period, there was no change in the allocation or expenditure from the Price Stabilization Fund. This is the second consecutive price increase after four previous price reductions, and the current gasoline price remains at its lowest level since June 2021.
Since the beginning of the year, gasoline prices have increased a total of 19 times and decreased 20 times, while diesel prices have increased 17 times and decreased 20 times.
On September 24, Prime Minister Pham Minh Chinh issued an official dispatch assigning the Minister of Industry and Trade to ensure that petroleum suppliers are proactive in reserving and supplying sufficient quantities of petroleum.
The Prime Minister stressed that there should not be any disruption in the supply of petrol, and that sales should continue at listed prices.
The Ministry of Industry and Trade also needs to closely monitor the implementation of minimum petroleum reserves by suppliers and direct the regulation of supply and demand to ensure balance in all areas.
