Crude oil continues to increase, how will gasoline prices in Vietnam this afternoon?

According to data from the Ministry of Industry and Trade, the average price of finished gasoline on the Singapore market updated to May 27 continued to increase.

On the international market, the US WTI oil price increased by 0.42%, to 115.15 USD/barrel at 6:12 am on June 1, Vietnam time. Brent crude oil price for July delivery also fell 1.13%, to 116.27 USD/barrel.

European Union (EU) leaders have vowed to cut oil imports from Russia by 90% by the end of the year. Meanwhile, Russian businesses are calling for production cuts to get higher prices.

The EU has rolled out five rounds of sanctions since Russia began its military campaign at the end of February. The difficulties in deciding on a crude oil embargo have shown the challenge to strengthen sanctions when risks arise. The economic risk to Europe is growing because so many countries depend on Russian energy.

Diplomats said the bloc had reached a political agreement on the oil embargo and details would be announced later.

Crude oil prices mixed

In the Vietnamese market, on the morning of June 1, the price of gasoline on the market was not higher than the price:

E5RON92 gasoline: not higher than 29,630 VND/liter

RON 95 gasoline is not higher than 30,658 VND/liter.

Diesel oil is not higher than 25,550 VND/liter.

Kerosene is not higher than 24,400 VND/liter

Fuel oil is not higher than 20,590 VND/liter.

According to data from the Ministry of Industry and Trade, gas price The average finished product on the Singapore market as of May 27 continued to increase. Specifically, RON 92 gasoline used to make E5 RON 92 gasoline costs $146.08/barrel, while RON 95 gasoline is $154.26/barrel, an increase of $4.3/barrel compared to May 23.

Similarly, the price of kerosene and diesel oil also increased by 9 USD/barrel and 11 USD/barrel, respectively, at 146.43 USD/barrel and 149.49 USD/barrel. Only fuel oil fell by 7.5 USD/barrel to 652.59 USD/ton.

With the movements of world oil prices, domestic gasoline price In the adjustment period this afternoon 1/6 will continue to increase for the 5th time in a row, the price of RON 95 gasoline may exceed 31,000 VND / liter.