This morning (September 4), world oil prices slid to their lowest level in nearly 9 months due to the suspension of Libyan oil exports at major ports.
Recorded at 7:00 a.m. (Vietnam time), Brent crude oil price reached 73.7 USD/barrel; West Texas Intermediate (WTI) crude oil price reached 70.3 USD/barrel. At the end of yesterday's trading session, both Brent crude oil price and WTI crude oil price decreased by nearly 5%.
According to information from the Vietnam Commodity Exchange (MXV), oil prices fell to their lowest level in nearly 9 months due to signs of reaching an agreement to resolve the dispute that has caused Libya's crude oil production and export activities to stagnate.
Libya's legislature has agreed to appoint a new central bank governor within 30 days following UN-sponsored talks.
According to current market developments, it is forecasted that in the next price adjustment period (Thursday, September 5), gasoline prices may continue to decrease, in which, E5 RON 92 gasoline is forecast to decrease by VND 100/liter; RON 95 gasoline is forecast to decrease by VND 150/liter; diesel oil is forecast to decrease by VND 200/liter.
According to petroleum distributors, the above forecast price does not take into account the management agency's provision or expenditure of the Petroleum Price Stabilization Fund. If the management agency makes provision, the petroleum price may remain the same as the previous adjustment period; if it is spent, the petroleum price may decrease more sharply.
However, since the August 29 petrol price adjustment period, which is the 44th period, from October 2023, the operator has not used the Petrol Price Stabilization Fund. By the end of 2023, this fund has a surplus of more than VND 6,655 billion, according to data from the Ministry of Finance.
Previously, on August 29, domestic gasoline prices were adjusted according to developments in the world market. In this adjustment period, the Ministry of Finance - Industry and Trade decided not to set aside or use the Gasoline Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel, kerosene, and fuel oil.
Thus, the selling prices of popular gasoline products on the market are as follows: E5RON92 gasoline price decreased by 92 VND/liter, at a level not higher than 20,332 VND/liter, 777 VND/liter lower than RON95-III gasoline;
The price of RON95-III gasoline decreased by VND208/liter, to a level not higher than VND21,109/liter; the price of 0.05S diesel decreased by VND299/liter, to a level not higher than VND18,477/liter; the price of kerosene decreased by VND84/liter, to a level not higher than VND19,065/liter; the price of 180CST 3.5S fuel oil decreased by VND194/kg, to a level not higher than VND15,562/kg.
