On July 22, gasoline prices increased slightly. Global benchmark Brent crude oil price inched up about 0.4%, trading at 83 USD/barrel; Meanwhile, US WTI oil price increased about 0.5%, trading at 80.5 USD/barrel.
However, in previous trading sessions, WTI oil price decreased by 3.2%, to 80.13 USD/barrel, Brent oil price decreased by 2.9%, to 82.63 USD/barrel, marking 2nd consecutive weekly decrease.
According to Reuters, drone attacks in the southern Gaza Strip over the weekend escalated violence in the Middle East. Tensions in this area continue to increase, threatening oil supplies. This has pushed oil prices up. Meanwhile, at the weekend session, also with the expectation that there would be a ceasefire in Gaza, oil prices dropped sharply by 3%.
Domestically, according to a representative of a petroleum business, domestic gasoline prices will fluctuate according to the world petroleum situation. It is forecasted that in the next price management period (Thursday, July 25), gasoline prices may simultaneously decrease, with a decrease of about 100 - 200 VND/liter.
If the executive agency, the Ministry of Industry, Trade and Finance, spends money on the gasoline price stabilization fund, the decrease will be stronger. On the contrary, if the executive agency appropriates the gasoline price stabilization fund, gasoline prices will remain stable. compared to the previous adjustment period.
From the beginning of the year until now, since the price management session on January 4, gasoline prices have increased 16 times and decreased 13 times. Oil products increased 15 times and decreased 14 times.
On July 22, Petrolimex's retail price of gasoline in region 1 market (near ports, warehouses, refineries...) was announced as follows: RON 95-V gasoline 23,700 VND/liter, RON 95-III gasoline 23,170 VND/liter, E5 RON92 gasoline 22,170 VND/liter, diesel oil 20,700 VND/liter, kerosene 20,660 VND/liter, fuel oil 17,610 - 20,600 VND/kg (wholesale price).
