Gasoline price today August 9, 2024: Domestic price drops sharply

Domestic gasoline prices today August 9, 2024

Starting from 3:00 p.m. on August 8, retail gasoline prices have been adjusted down according to the decision of the Ministry of Finance and the Ministry of Industry and Trade.

The price of E5 RON 92 gasoline decreased by VND900/liter, setting the new price at VND20,710/liter. RON 95 gasoline also decreased by VND930/liter, with the new price at VND21,670/liter.

Diesel price decreased by 730 VND/liter, to 19,140 VND/liter; Kerosene decreased by 680 VND/liter, to 19,410 VND/liter; Mazut decreased by 860 VND/kg, to 16,020 VND/kg.

The petrol price stabilization fund continued to be unused during this management period, maintaining a positive level for some key enterprises. As of August 8, Petrolimex, PV Oil, Saigon Petro and Petimex recorded a significant difference in the price stabilization fund, with Petrolimex leading with a positive fund of VND3,078 billion.

Domestic gasoline prices have recorded their fifth consecutive decrease, with a total of 16 increases and decreases in gasoline prices, and 15 adjustments in diesel prices since the beginning of the year.

Oil price today 8/9/2024

Recorded on Oilprice at 5:00 a.m. on August 9, 2024 (Vietnam time), WTI oil price was at 76.09 USD/barrel, up 1.28% (equivalent to an increase of 0.96 USD/barrel).

Brent oil price is at 78.94 USD/barrel, up 0.78% (equivalent to an increase of 0.61 USD/barrel).

Oil prices continued to rise for a third consecutive session, supported by upbeat US jobs data, easing concerns about oil demand.

Oil prices' recovery from eight-month lows was fueled by tensions in the Middle East and positive US labor market data.

The latest report on the number of unemployment claims in the United States showed a sharper-than-expected drop, raising hopes of stabilization in the labor market.

"Fresh US labor market data showed the economy is still growing, easing some concerns about oil demand," said UBS analyst Giovanni Staunovo.