Gasoline price today October 9, 2024: World crude oil price suddenly drops sharply
Oil prices today October 9, 2024: World crude oil prices suddenly dropped more than 4%. Specifically, WTI oil price is at 73.90 USD/barrel, down 4.63%; Brent oil price is at 77.45 USD/barrel, down 4.3%.
World oil prices today
Crude oil prices on the world market fell significantly on the morning of October 9, with an average decrease of more than 3 USD/barrel compared to October 8.
Specifically, WTI crude oil price reached about 73.8 USD/barrel, down 3.3 USD/barrel, or 4.28%. Meanwhile, Brent oil price was 77.4 USD/barrel, down 3.5 USD/barrel, or 4.3%.
Compared to the same period last year, WTI and Brent oil prices decreased by 12.6% and 10.3% respectively.
Despite the decline from yesterday and year-over-year, crude oil prices are still up nearly 8% from September, with WTI and Brent up between 7.6% and nearly 8%.
Oil prices fell more than 4% on news of a possible ceasefire between Hezbollah and Israel, but were still supported somewhat by concerns about the possibility of Iranian attacks on oil infrastructure.
Israel warned residents to stay away from several areas south of Beirut late Tuesday, after Iran launched missiles at Israel on October 1. Israel also said it would take retaliatory action and was reviewing its options.
Some analysts say the likelihood of Israel attacking Iran's oil infrastructure is low and warn that oil prices could fall if Israel goes after other targets.
Gasoline prices today
Domestic retail prices of gasoline on October 9 are as follows:
E5 RON 92 gasoline is not more than VND 18,850/liter; RON 95-III gasoline is not more than VND 19,803/liter; Diesel oil is not more than VND 17,401/liter; Kerosene is not more than VND 17,651/liter; Mazut oil is not more than VND 15,003/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 on the afternoon of October 10. Due to the sharp increase in world gasoline and oil prices last week, it is likely that domestic gasoline and oil prices will also increase.
In the most recent price adjustment period (October 3), E5 RON 92 gasoline price decreased by 770 VND/liter, RON 95-III gasoline decreased by 715 VND/liter, diesel oil decreased by 105 VND/liter, kerosene decreased by 222 VND/liter, and mazut oil decreased by 354 VND/kg.
