Gasoline prices rise due to supply concerns; Gold prices reverse

Gasoline prices rise due to supply concerns

International oil prices are on an upward trend due to concerns about tight supply.

Meanwhile, in the domestic market, gasoline prices have been adjusted in opposite directions since yesterday. Today's gasoline prices, December 1, are applied according to the prices at the afternoon session of November 30 of the Ministry of Finance and the Ministry of Industry and Trade. Accordingly, gasoline prices are adjusted in opposite directions.

Specifically, the price of E5 gasoline increased by 100 VND/liter, selling price is 21,790 VND/liter. The price of RON95 gasoline decreased by 30 VND/liter, selling price is 22,990 VND/liter. The price of diesel oil decreased by 90 VND/liter, selling price is 20,190 VND/liter. Meanwhile, the price of kerosene increased by 170 VND/liter, to 21,110 VND/liter.

On the world market, gasoline prices today, December 1, tend to continue to increase. On November 30, gasoline prices continued to increase from the previous two sessions. Brent oil prices were close to 84 USD/barrel.

According to analysts, oil prices rose due to concerns about tight supply. Investors remained cautious about the decision of the Organization of the Petroleum Exporting Countries and its allies (OPEC+). There is information that the OPEC+ production cut could reach 1 million barrels/day, not including voluntary production cuts by members.

However, the upside momentum of oil prices is limited due to the risk of weak global economic growth, which will reduce consumption demand.

Japanese Yen exchange rate continues to increase strongly

Japanese Yen exchange rate surveyed on the morning of December 1 at banks, specifically as follows:

At Vietcombank, the buying rate is 160.34 VND/JPY and the selling rate is 169.73 VND/JPY, up 0.5 VND for buying and up 0.35 VND for selling. At Vietinbank, the Yen rate increased by 1.23 VND for buying and selling, equivalent to 160.11 VND/JPY and 169.81 VND/JPY. At BIDV, the buying rate increased by 0.72 VND and the selling rate increased by 0.74 VND, reaching 157.48 VND/JPY and 165.75 VND/JPY, respectively. At Agribank, the buying and selling rates are 158.80 VND/JPY and 163.74 VND/JPY, respectively - up 0.45 VND for buying and 0.48 VND for selling.

At Eximbank, the buying rate increased by 0.27 VND and the selling rate increased by 0.28 VND, respectively, to 162.50 VND/JPY and 167.04 VND/JPY. At Techcombank, the buying rate increased by 0.46 VND and the selling rate increased by 0.45 VND, respectively, to 158.31 VND/JPY and 169.28 VND/JPY. At Sacombank, the buying rate increased by 0.55 VND and the selling rate increased by 0.53 VND, respectively, to 162.48 VND/JPY and 169.03 VND/JPY.

Thus, Eximbank is the bank with the highest buying rate of Japanese Yen and Agribank is the bank with the lowest selling rate among the banks.

USD continues to recover

Today, USD VCB turned around and increased strongly by 45 VND in both buying and selling directions. The world USD continued to increase in price thanks to the recently announced PCE index.

The central VND/USD exchange rate announced by the State Bank is adjusted to 23,891 VND/USD, down 22 VND compared to the closing price of yesterday's trading session.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,035 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank Exchange from 23,400 to 25,035 VND/USD.

The USD exchange rate at banks and foreign exchange rates in the country this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,060 and a selling price of 24,430, an increase of 45 VND compared to yesterday's trading session. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

Gold prices reverse and cool down

At the time of survey at 5:00 a.m. on December 1, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 72.40 million VND/tael for buying and 73.80 million VND/tael for selling.

At Mi Hong Jewelry Company, at the time of survey, the listed price of SJC gold was at 72.30 - 73.30 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 72.45 - 73.58 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 72.50 - 74.00 million VND/tael (buy - sell).