Gasoline price today August 23, 2024: Domestic price decreased as predicted
Today's domestic gasoline price, August 23, is as predicted, with the highest decrease of more than 500 VND/liter in the 34th adjustment session of the year.
Domestic gasoline prices today August 23
Domestic gasoline prices have decreased after the latest adjustment session.
The price of E5 RON 92 gasoline currently does not exceed 20,424 VND/liter.
The price of RON95-III gasoline currently does not exceed VND21,317/liter.
Diesel prices are currently not exceeding VND18,776/liter.
Kerosene price is currently not exceeding 19,149 VND/liter.
The price of fuel oil currently does not exceed 15,756 VND/kg.
In the latest adjustment, the price of E5 RON92 gasoline decreased by 458 VND/liter, RON95-III gasoline decreased by 535 VND/liter. Oil prices also decreased, with diesel down 454 VND/liter, kerosene down 423 VND/liter, and fuel oil down 489 VND/kg.
There was no provision or expenditure from the Petroleum Price Stabilization Fund in the adjustment session on August 22.
Since the beginning of 2024, there have been 34 adjustments in gasoline prices, including 17 increases and 17 decreases.
The oil market is affected by the political situation in the Middle East, US crude oil reserves, and forecasts of reduced oil demand from OPEC due to the weakening Chinese economy.
The Ministry of Industry and Trade has completed the fourth draft of the Decree on petroleum trading.
In the draft, the Ministry maintains the proposal to transfer management of the Petroleum Price Stabilization Fund from enterprises to the state budget.
The Ministry of Industry and Trade believes that this will help the state have a large fund, facilitating price control according to policy.
Since the beginning of the year, weekly adjustments in gasoline prices have shown that the BOG Fund has not intervened strongly in gasoline prices and the allocation/disbursement from the Fund has also been limited because prices have not fluctuated much.
World oil prices today August 23
On the morning of August 23, Brent and WTI oil prices both fell slightly, after increasing by more than 1% in the previous session.
Expectations that the US will cut interest rates in the near future have helped oil prices recover after falling continuously for four sessions.
Brent crude rose $1.17, or 1.54%, to $77.22 a barrel. WTI crude also rose $1.08, or 1.5%, to $73.01 a barrel.
A report from the US Energy Information Administration said crude oil, gasoline and distillate inventories fell more than expected, suggesting demand is rising.
Events in the Middle East also affected markets, with Houthi forces attacking the Greek tanker Sounion, forcing the evacuation of its crew. The vessel is currently anchored between Yemen and Eritrea.
Investors are paying close attention to OPEC+ decisions, especially whether they will adjust their plans to cut oil production in October.