According to Oilprice, at 6:20 a.m. on March 16 (Vietnam time), the price of US WTI crude oil for April delivery traded around $95.69/barrel, down $0.75, or 0.78%. While, the price of Brent crude oil delivered in May stood at 99.91 USD/barrel.
Before that, the world crude oil price at 9pm on March 15 plummeted, according to data from Trading Economics. Specifically, the price of Brent oil has dropped to 98.15 USD/barrel, equivalent to 7.8%. WTI oil drops to 94.5 USD/barrel, equivalent to 8.09%. These are the lowest prices since the beginning of March until now.
Gasoline prices have increased to nearly 30,000 VND/liter. (Illustration image – Photo: Investment Newspaper)
World oil prices reversed to go down from March 9 when falling more than 15 USD/barrel to the lower threshold 115 USD/bin. Before that, the price of 2 types of oil fluctuated above and below 130 USD/barrel, the highest level since 2008. The price of Brent oil at one point touched $139 a barrel (the highest since July 2008).
In the domestic market, from the beginning of 2022, gas price oil has increased by 25-40%. On March 11, the retail price of gasoline and oil in the country increased by nearly 3,000 VND/liter, bringing the price of RON 95 and E5 RON 92 gasoline to historic highs of VND 29,820/liter and VND 28,985/liter.
Compared to the beginning of the year, gasoline prices have increased by 4,625 – 7,030 VND/liter, kg depending on the type, while the world price of petroleum products fluctuates by 44 – 60% when oil prices escalate.
According to data from the Ministry of Industry and Trade, the price of finished petroleum products on the Singapore market, updated to March 14, decreased by about 8 – 10 percent. 27 USD/barrel compared to March 10. Specifically, the price of gasoline RON 92 is 125.41 USD/barrel, RON 95 gasoline is 129.34 USD/barrel, diesel oil 123.07 USD/bin…
A representative of a leading enterprise in Ho Chi Minh City said that after March 11, world oil prices tended to decrease according to positive signals from negotiations.
Compared with 4 days ago, domestic retail gasoline price is higher than finished product price in Singapore by about 1,000 VND/liter for gasoline and 3,000 VND/liter for diesel, but still lower than finished product price in Singapore. 10 days ago about 100 – 130 VND/liter.
In the next operating period on March 21, gasoline prices may remain the same or decrease, if the next 6 days crude oil prices continue to decrease as at present. This depends on the operating agency calculating whether to set up a stabilization fund or not in the context that this fund of many key enterprises is severely negative.
In the same opinion, the owner of a petroleum distribution business in the North predicts that the world crude oil price will drop to about 93 – 95 USD/barrel, then turned back to continue increasing.
The leader of this business said, about the upcoming adjustment period on March 21, there will be 2 options. Firstly, if crude oil prices remain at present, the retail price of gasoline in the country will decrease around 1,500 VND/liter and oil around 2,000 VND/liter. Second, if crude oil rebounds to 110 – 130 USD/barrel, the prices of these items will continue to increase.
After the adjustment period on March 11, the domestic gasoline price simultaneously increased sharply. Gasoline price is close to 30,000 VND/liter.
Accordingly, E5RON92 gasoline increased by 2,908 VND/liter, the ceiling price was 28,985 VND/liter; RON95-III gasoline increased by 2,990 VND/liter, the highest was 29,824 VND/liter; 0.05S diesel oil increased by 3,958 VND/liter, the new price was 25,268 VND/liter.
In addition, kerosene increased by 3,940 VND/liter, the ceiling price was 23,918 VND/liter and fuel oil 180CST 3.5S increased by 2,519 VND/kg, the new price was 20,987 VND/kg.
After the adjustment period on March 11, the domestic gasoline price had the 7th consecutive increase and also the 6th increase in 2022.
at Blogtuan.info – Source: vtv.vn – Read the original article here