Update on gasoline and oil prices on September 16: Simultaneous decrease

At 6:30 PM on September 16, world oil prices simultaneously decreased. WTI oil price was at 103.30 USD/barrel, down 2.53 USD/barrel, equivalent to a decrease of 2.39%. Brent oil was at 107.20 USD/barrel, down 1.55 USD/barrel, equivalent to a decrease of 0.43%.

World oil prices on trading day Wednesday turned down after US crude oil inventory data unexpectedly increased sharply, somewhat overwhelming concerns about supply from Saudi Arabia. The market is showing strong tug-of-war between the risk of supply shortage due to geopolitical factors and short-term surplus signals from the US.

Oil prices are adjusting down but are still in the high range above $100/barrel, while the price trend is still in an upward trend. US inventories put pressure in the short term, while the risk of supply disruption in Saudi Arabia, the Strait of Hormuz, Libya and Russia continues to support prices. The market will specifically monitor the recovery time of the East-West pipeline and export activities at Yanbu port in Saudi Arabia.

According to the Ministry of Industry and Trade, the world gasoline and oil market in today's operating period is affected by key factors such as: Conflict between the US and Iran showing signs of escalation; Houthi forces attacking Saudi Arabia causing fires at some oil facilities; signals of peace talks between Russia and Ukraine... The above factors have caused world finished gasoline and oil prices in recent days to increase and decrease depending on the item, but the main upward trend is.

The selling prices of popular consumer gasoline and oil items in the domestic market in the operating period on September 16 are as follows:

- E5 RON92 gasoline: not higher than 23,744 VND/liter, lower than E10 RON95-III gasoline by 495 VND/liter;

- E10 RON95-III gasoline: not higher than 24,239 VND/liter;

- Diesel oil 0.05S: not higher than 28,485 VND/liter;

- Mazut oil 180CST 3.5S: not higher than 18,157 VND/kg.

A representative of a gasoline and oil business forecasts that gasoline and oil prices in tomorrow's price adjustment period may increase. However, the actual increase will depend on the spending of the price stabilization fund.