Gasoline prices today November 25, 2024: Increased across the board
Oil prices today November 25: The world crude oil market opened the new week with prices increasing across the board.
World oil prices
This morning, according to data from TradingEconomics and Oilprice, world crude oil prices are on an upward trend, and indexes on fuel exchanges are all green. At 6:17 a.m. on November 25 (Vietnam time), WTI oil price reached 71.3 USD/barrel, up 0.13 USD/barrel, equivalent to an increase of 2%.
At the same time, Brent oil price was trading at 75.23 USD/barrel, up 0.63 USD/barrel, or 0.08%.
The global oil market has seen strong volatility over the past week, reversing the previous downward trend. Two weeks ago, WTI crude oil prices were at just $67.02 per barrel, but rose to $70.70 per barrel by the end of last week. Similarly, Brent crude oil prices also increased from $71.04 per barrel to $75.17 per barrel.
WTI and Brent crude oil prices both rose sharply last week, up 5.5% and 5.8%, respectively. Russia, the world's second-largest crude oil exporter after Saudi Arabia, could have a major impact on global oil supplies if there is any disruption.
Experts predict that the tense war situation between Ukraine and Russia, especially the use of long-range ballistic missiles to attack strategic targets, could increase tensions and directly impact world oil prices. In addition, the need to reserve oil for the upcoming winter also contributes to pushing crude oil prices up in the last months of the year.
The average world oil price during the price adjustment period from November 14, 2024 to November 21, 2024 is as follows: RON92 gasoline used to blend E5RON92 gasoline is priced at 77.578 USD/barrel (down 0.676 USD/barrel, equivalent to a decrease of 0.86%); RON95 gasoline is priced at 83.646 USD/barrel (down 0.482 USD/barrel, equivalent to a decrease of 0.57%); kerosene is priced at 88.612 USD/barrel (down 0.456 USD/barrel, equivalent to a decrease of 0.51%); 0.05S diesel is priced at 88.202 USD/barrel (down 0.436 USD/barrel, equivalent to a decrease of 0.49%); 180CST 3.5S fuel oil is priced at 450.048 USD/ton (down 0.156 USD/ton, equivalent to a decrease of 0.03%).
Domestic gasoline prices
On November 21, in the 5th regular gasoline price adjustment session, the Ministry of Finance and the Ministry of Industry and Trade jointly decided to reduce domestic gasoline prices. Specifically, from 3:00 p.m. on November 21, gasoline prices will decrease across the board.
- RON 95-III gasoline price (common type on the market) retails at around VND20,520/liter, down VND80;
- E5 RON 92 gasoline retail price is around 19,340 VND/liter, down 110 VND;
- Retail diesel price is around 18,509 VND/liter, down 64 VND;
- Retail price of kerosene is over 18,921 VND/liter, down 67 VND/liter;
- Retail price of fuel oil is over 16,014 VND/liter; increased 5 VND/kg.
Since the beginning of 2024, domestic gasoline prices have undergone 46 adjustments, including 23 decreases, 18 increases and 6 opposite changes.
With the trend of increasing world crude oil prices in recent days, experts and petroleum enterprises predict that domestic gasoline prices may increase again this week, with an expected increase of 300 to 500 VND/liter or kg, depending on the type.