Oil leveled off, what is the forecast for domestic gasoline prices?

Petrol price today April 19: Oil leveled off, predicting “hot” domestic gasoline prices in the coming time

On the world market, crude oil prices were mixed in this morning’s session after gaining more than 1% in the previous session. At 6:15 am on April 19 (Vietnam time), the price of US WTI crude oil delivered in May traded at 107.6 USD/barrel, down 0.62 USD, or 0.57%.

At the same time, the price of Brent crude oil delivered in June “stagnated” at 113.2 USD/barrel.

Crude oil prices rose more than 1% in trading on Monday (April 18), with Brent crude surpassing $114 a barrel, as the shutdown in Libya deepened concerns about tight global supply. in the context of the Ukraine crisis continues to escalate.

With the current global supply so tight, even the slightest disruption can have a big impact on prices.

The supply of dry oil fell further after Interfax reported late last week that Russian production fell 7.5% in the first half of April compared with March, and European Union (EU) governments, last week, earlier, said the bloc’s executive board was drafting proposals to ban Russian crude.

Besides, China’s economy decelerated in March, when consumption, real estate sector and exports all dropped sharply, thereby casting a shadow over the economic outlook, which has deteriorated due to the economic measures. Covid-19 prevention and conflict situation in Ukraine.

China’s refining oil volume fell 2% in March from the previous month, with throughput – the amount of a product or service a company can produce and provide to customers over a period of time. determined) has fallen to its lowest level since October last year, as a sharp increase in crude prices squeezed oil companies’ profit margins and strict lockdowns dented fuel consumption. Whether.

In the country, currently, each liter of petrol sold is still lower than the base price, this is a signal that from now until April 21, if finished petroleum products still increase, it will put retail prices in the country at risk. price increase. However, the operator will still consider using the Petroleum Price Stabilization Fund in the coming operating period on April 21 to control gasoline prices so that they are close to the movements of the world market, ensuring profits. benefits of the economy, businesses and consumers.

In the latest operating period, the management agency increased the setting up of the Price Stabilization Fund at a “record” level, making the decline in domestic gasoline prices on April 12 lower than expected. Specifically, for E5RON92 items set aside to 650 VND/liter and RON95 gasoline to 550 VND/little, diesel oil to 500 VND/liter, kerosene from not making deductions has increased. set up 350 VND/liter.

At the same time, the operator also stopped spending on the Price Stabilization Fund for all products, except fuel oil, which is 481 VND/kg.

On the domestic market, from April 12, the Ministry of Industry, Trade and Finance has adjusted each liter of gasoline to decrease by VND 830 – 840, while kerosene and diesel will decrease by VND 700 – 740.

Petrol price today April 19: The domestic retail price of gasoline on April 19 is as follows: E5 RON 92 gasoline does not exceed 26,479 VND/liter; gasoline RON 95 not more than 27,313 VND/liter; diesel oil not exceeding 24,380 VND/liter; kerosene oil is not more than 23,024 VND/liter and fuel oil is not more than 20,929 VND/kg.