Gasoline price today August 30, 2024: World price increases, domestic price decreases
Gasoline price today August 30, 2024: World oil price today turned up by more than 1 USD/barrel, domestic gasoline price decreased for the second consecutive time.
World oil prices today
According to information from Oilprice at 5:00 a.m. on August 30, 2024, the price of WTI crude oil reached 76.02 USD/barrel, up 1.87% compared to the previous one, which is an increase of 1.39 USD/barrel. The price of Brent oil also increased to 79.96 USD/barrel, up 1.67%, equivalent to 1.31 USD/barrel.
The main reason for the price increase was the disruption of supply from Libya and Iraq's plan to cut oil production, which raised market concerns that global supply could be tightened.
Libya had to shut down more than half of its oil production on Thursday due to political conflict, and oil exports were also suspended at some ports. Libya is currently estimated to be losing about 700,000 barrels of oil per day.
Iraq is expected to reduce its oil production in September to compensate for overproducing under its agreed quota with OPEC and its partners. Production is expected to fall from 4.25 million barrels per day to between 3.85 million and 3.9 million barrels per day.
Experts say the closure of Libya's export terminals could make the oil market in the Atlantic region even tighter.
Despite the volatility, oil traders need to get used to the fact that Libya remains an uncertain factor for the global oil market.
Domestic gasoline prices today
Domestic retail gasoline prices on August 30, 2024 will be applied according to the adjustment session from 3:00 p.m. on August 29 by the Ministry of Finance - Ministry of Industry and Trade.
The price of E5 RON92 gasoline does not exceed VND20,332 per liter.
RON95 gasoline price is kept at a maximum of VND21,109 per liter.
Diesel prices have dropped by VND299, to no more than VND18,477 per liter.
Kerosene price slightly decreased, only 19,065 VND per liter after decreasing 84 VND.
Fuel oil price also decreased by 194 VND, currently not more than 15,562 VND per kg.
In this adjustment, there is no provision or expenditure from the price stabilization fund for any item.
| Item | Price (VND/liter/kg) | Difference from previous period |
| E5 RON 92 gasoline | 20,332 | -92 |
| RON 95 gasoline | 21,109 | -208 |
| Diesel | 18,477 | -299 |
| Oil | 19,065 | -84 |
| Fuel oil | 15,562 | -194 |
