Gasoline price today September 5, 2024: Will domestic prices continue to decrease?
Gasoline price today September 5, 2024: Domestic gasoline prices are forecast to continue to decrease for the third consecutive time in the price adjustment session this afternoon.
Domestic gasoline prices
Domestic retail gasoline prices on September 5, 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.
| 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 |
During this operating period, there was no provision or expenditure from the Petroleum Price Stabilization Fund.
Since the beginning of the year, gasoline prices have increased 17 times and decreased 17 times; oil prices have increased 15 times and decreased 18 times.
It is forecasted that gasoline prices will continue to decrease for the third consecutive time in the price adjustment session this afternoon, September 5. E5 RON 92 gasoline prices may decrease by another 199 VND, down to 20,221 VND/liter. RON 95-III gasoline may decrease by about 80 VND, down to 21,230 VND/liter.
World oil prices
As of 5:30 a.m. on September 5, 2024, WTI oil price stood at $69.25/barrel, down 1.62%.
Brent crude oil prices also fell 1.32% to $72.78 a barrel. In one week, Brent crude oil prices have fallen 11%, about $9.
Data from the US and China show that global oil demand is weakening. Manufacturing in China fell to a six-month low, and US manufacturing activity was also weak.
US crude inventories fell sharply by 7.4 million barrels, much larger than the expected decrease of 900,000 barrels. US gasoline and distillate inventories also fell, by 300,000 barrels and 400,000 barrels, respectively.
While demand is not seen as optimistic, changes in supply could change the market outlook, according to analyst Phil Flynn. Mr. Flynn also emphasized that oil prices could rise again due to the decrease in US oil inventories.
