Will gasoline and diesel prices continue to rise sharply today?

Over the past 15 days, global oil prices have been trending upwards significantly. Therefore, gasoline prices may rise again today.

According to refined product price data from the Singapore market, the average price of gasoline over the past 15 days was $61 per barrel, $3 per barrel higher than the average price of the previous 15 days ($57.856 per barrel).

According to calculations, each liter of gasoline currently sold on the market is about 600 VND/liter lower than the average import price over the past 15 days.

Therefore, without the use of the price stabilization fund, today's gasoline prices could increase by a corresponding amount.

At the previous price adjustment (July 20th), the Ministry of Industry and Trade - Ministry of Finance decided to increase fuel prices. Specifically, RON 92 gasoline increased by 357 VND/liter; E5 gasoline increased by 333 VND/liter; and 0.05S diesel increased by 372 VND/liter…

Since the end of July, world oil prices have risen quite sharply. At that time, world oil prices sometimes experienced several consecutive days of increases due to tight supply in the US and the possibility of the US imposing sanctions on Venezuela, a member of the Organization of Petroleum Exporting Countries (OPEC).

On August 2nd and 3rd, oil prices showed signs of a slight decline as supply from the Organization of Petroleum Exporting Countries (OPEC) remained high, even though US demand continued to rise. OPEC's supply increased despite its commitment to limit production by 1.8 million barrels per day from January 2017 to the end of March 2018.

According to VNN