Oil continues to fall, what about domestic gasoline prices after the holiday?
Petrol price today 28/4: WTI oil price fell, Brent remained unchanged at 105.3 USD/barrel
Update oil prices At 6:15 a.m. on April 28 (Vietnam time), the US WTI crude oil price was trading at $101.9/barrel, down $0.12, or 0.12%. At the same time, the price of Brent oil for June delivery was preserved at 105.3 USD/barrel.
Many potential uncertainties, the recovery momentum of the oil market is difficult to maintain firmly. Oil prices rebounded in yesterday’s session, as the market reassessed prospects in China and Russia. At the end of the session, WTI oil price increased 3.21% to 101.7 USD/barrel while Brent oil price increased 2.4% to 104.61 USD/barrel.
The market is still struggling between opposing factors, both on the supply side and on the demand side. On the one hand, the actual satellite images show a lot of ongoing problems in China due to the blockade orders. Shopping activity dropped significantly, when about a quarter of the population was placed under restrictions on movement.
There is no firm and clear plan to ensure production areas can resume progress as before, even if the local government wants to arrange workers to live in the workplace. The construction and real estate sectors, one of the industries that often receive a lot of support to stimulate the general economy, are still stagnant and do not show many signs of improvement.
On the other hand, the fact that the flow of natural gas from Russia to Poland has been halted this morning has raised concerns that Russia will actually cut off energy supplies to “hostile” countries. Although the flow has been resumed, this information once again “reminds” the market that the initiative is still in the hands of President Putin.
Natural gas prices in Europe and the US simultaneously increased on this news, although the period of April-early May is usually the time when natural gas prices are weak due to seasonal decline in demand. This will be a factor Europe needs to consider before deciding on an energy embargo in the 6th package of sanctions.
According to the Vietnam Commodity Exchange, most likely oil prices might face pressure again at $104/barrel today.
Domestically, from 3:00 p.m. on April 21, domestic gasoline price has increased sharply again, with the level from 663 to 675 VND/liter, depending on the type. If the world gasoline price continues to decrease, the domestic gasoline price will have the opportunity to decrease in the coming price adjustment period.
Petrol price today 28/4: E5RON92 gasoline is not higher than 27,134 VND/liter (an increase of 663 VND/liter compared to the current retail price), 858 VND/liter lower than RON95-III gasoline; RON95-III gasoline is not higher than 27,992 VND/liter (an increase of 675 VND/liter compared to the current retail price); 0.05S diesel oil is not higher than 25,359 VND/liter (an increase of 979 VND/liter compared to the current retail price); kerosene is not higher than 23,828 VND/liter (an increase of 801 VND/liter compared to the current retail price); fuel oil 180CST 3.5S is not higher than 21,800 VND/kg (up 871 compared to the current retail price).
at Blogtuan.info – Source: danviet.vn – Read the original article here