On the morning of October 30, world oil prices stabilized again after falling in the previous two trading sessions, thanks to data showing a surprising decrease in US crude oil and gasoline reserves.
At 8:00 a.m. (Vietnam time), Brent crude oil price reached 71.3 USD/barrel and WTI crude oil price reached 67.4 USD/barrel. At the end of yesterday's trading session, both Brent crude oil price and WTI crude oil price were flat and had a slight upward trend.
Recent data from the American Petroleum Institute showed that U.S. crude and fuel inventories fell last week. Crude inventories fell by 573,000 barrels last week and gasoline inventories fell by 282,000 barrels.
The market is awaiting official US government data, expected to be released later today, October 30.
Oil prices fell sharply in the first two days of the week after Israel's retaliatory attack on Iran last weekend failed to hit Tehran's oil infrastructure.
In the domestic market, according to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. It is forecasted that in the next price adjustment period (Thursday, October 31), petroleum prices may have opposite adjustments.
Of which, the price of E5 RON 92 gasoline is forecast to decrease by 270 VND/liter; RON 95 gasoline is forecast to decrease by 370 VND/liter; and DO oil is forecast to increase by 90 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance jointly draw from the Stabilization Fund, the price of gasoline may decrease less or remain the same.
Since the beginning of the year, domestic gasoline prices have had 42 adjustments, including 21 decreases, 17 increases and 5 opposite sessions.
Today's domestic gasoline prices, according to the adjustment by the Ministry of Industry and Trade - Ministry of Finance, have slightly decreased from 30 VND to 70 VND/liter.
In there:
- RON 95-III gasoline retail price is at 20,890 VND/liter;
- Retail price of E5 RON 92 gasoline is 19,690 VND/liter;
- Retail diesel price at 18,050 VND/liter;
- Retail price of kerosene is at 18,570 VND/liter;
- Retail fuel oil is at 16,229 VND/kg.
