Gasoline prices today November 28, 2024: Domestic prices increase sharply
Gasoline price today November 28, 2024: At 3:00 p.m. on November 28, the Ministry of Industry and Trade - Ministry of Finance has just announced an adjustment in gasoline prices with an increase in all products.
World oil prices
World crude oil prices were stable this morning. At 6:53 a.m. (Vietnam time), WTI oil prices were at 68.8 USD/barrel, up slightly by 0.12 USD. Meanwhile, Brent oil prices fell by 0.3 USD to 72.5 USD/barrel. Both WTI and Brent increased by 2.4% and 3.4% respectively over the past month.
According to the US Energy Information Administration, US gasoline inventories rose by 3.3 million barrels to 212.2 million barrels, contrary to forecasts for a decrease. In contrast, oil inventories fell by 1.8 million barrels, exceeding expectations.
It was surprising to see such a large build in gasoline inventories, even though demand has not changed significantly week to week, despite the fact that Thanksgiving travel demand is expected to hit a record high, said Kpler analyst Matt Smith.
Oil prices were also weighed down by data showing that disinflation appears to have stalled in recent months, which could reduce the likelihood of a rate cut by the Federal Reserve in 2025.
Domestic gasoline prices
The Ministry of Industry and Trade - Ministry of Finance has just announced an adjustment in gasoline prices with an increase in all products. Specifically:
E5 gasoline: New price is 19,840 VND/liter, an increase of 497 VND/liter compared to the current base price, 1,017 VND/liter lower than RON 95-III gasoline.
RON 95-III gasoline: New price is 20,857 VND/liter, an increase of 329 VND/liter.
Diesel 0.05S: New price is 18,777 VND/liter, up 268 VND/liter.
Kerosene: New price is 19,142 VND/liter, up 221 VND/liter.
Mazut oil 180CST 3.5S: New price is 16,125 VND/kg, an increase of 111 VND/kg.
During this management period, the joint ministries decided not to set aside or use the Petroleum Price Stabilization Fund. This decision applies to all products, including E5 RON 92 gasoline, RON 95 gasoline, diesel, kerosene and fuel oil.
According to the Ministry of Industry and Trade - Ministry of Finance, the world oil market during the period from November 21 to 27 was affected by many factors. The ceasefire agreement between Israel and Hezbollah in the Middle East, the increase in US oil reserves, OPEC+ continued discussions on postponing oil production increase, and the conflict between Russia and Ukraine were the main factors. These factors caused world oil prices to fluctuate with an upward trend of about 4% for gasoline and 2% for oil.
The new price will be applied from 3pm on November 28, as announced by the joint ministries. The Ministry of Industry and Trade affirmed that it will coordinate with relevant agencies to closely inspect and monitor the implementation of the responsibility of petrol and oil supply by traders. At the same time, violations will be strictly handled to ensure supply for the market.
