Update on gasoline and oil prices on July 15: Strong fluctuations

    Thạch Lam |

    Update on gasoline and oil prices on July 15: At 6:30 PM, world oil prices simultaneously increased.

    At 6:30 PM on July 15, world oil prices simultaneously increased. WTI oil price was at 79.75 USD/barrel, up 0.41 USD/barrel, equivalent to an increase of 0.52%. Brent oil was at 85.25 USD/barrel, up 0.52 USD/barrel, equivalent to an increase of 0.61%.

    World oil prices continued to rise sharply in the trading session on July 15, extending the upward momentum to the second consecutive session and reaching the highest level in more than a month as military tensions between the US and Iran escalated.

    Previously, both Brent and WTI increased by about 2% in Tuesday's session due to concerns about supply disruptions through the Strait of Hormuz – a route that transported about 20% of global oil and LNG before the conflict broke out.

    In the price adjustment period last week, the Ministry of Industry and Trade said that the world gasoline and oil market is affected by key factors such as: the US and Iran continue to retaliate against each other; some oil tankers continue to be attacked in the Strait of Hormuz; OPEC+ agreed to increase oil production from August; military conflict between Russia and Ukraine continues, Ukraine focuses on attacking Russian oil refineries; Russia bans diesel oil exports...

    Domestic gasoline and oil prices on July 15th are applied at the following level:

    - E5 RON 92 gasoline: not higher than 19,191 VND/liter, 812 VND/liter lower than E10 RON 95-III gasoline;

    - E10 RON 95-III gasoline: not higher than 20,003 VND/liter;

    - Diesel oil 0.05S: not higher than 21,745 VND/liter;

    - Fuel oil 180 CST 3.5S: not higher than 13,735 VND/kg.

    Regarding domestic gasoline and oil prices, a representative of a business said that in tomorrow's price adjustment period, gasoline prices may increase simultaneously. However, this business also noted that the specific adjustment level depends on the deduction and use of the gasoline and oil price stabilization fund.

    Gasoline and oil selling prices of neighboring countries Vietnam:

    - Regarding gasoline prices: Thailand: 27,678 VND/liter (Government subsidies); Cambodia: 25,738 VND/liter (Government subsidies); Laos: 35,688 VND/liter; China: 29,175 VND/liter (Government price control); Vietnam: 20,003 VND/liter.

    - Regarding oil prices: Thailand: 27,678 VND/liter (Government subsidies); Cambodia: 26,715 VND/liter; Laos: 30,480 VND/liter; China: 26,234 VND/liter (Government price control); Vietnam: 21,745 VND/liter.

    Vietnam's gasoline and oil prices are currently lower than those of countries sharing a common border.

    Thạch Lam
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