A95 gasoline prices, E5 will increase by reversing owl in the world?

(PLO) – Many predicted that the ability to endure domestic petrol prices will be broken and to this domestic fuel price increase is unavoidable.

To mid-February, the international oil price rose above 2%, the highest level in 2019.

In particular, the price of Brent oil stood at 66.25 USD / barrel, up from 1.68% up to 2.60 %, the OPEC basket oil price is 64.28 USD, up from 1.34% to 2.13%; WTI oil prices also reached 55.98 USD, up from 1.19% to 2.17%.

Reverse shot is quite a surprise to analysts since late 2018, when they predict oil prices dropped from the mold $ 50.

Phil Flynn, an analyst of the Group Price Futures (Chicago), said rising oil prices by OPEC supply cuts half a million barrels / day, while Saudi Arabia shut rigs Safaniya with capacity to produce 1 million barrels / day. In addition, because of the US sanctions, should the supply from Venezuela and Iran is limited.

Merrill Lynch Bank (USA) predicts that OPEC continues to cut production, but the quarter 4-2019, production cuts will amount to 2.5 million barrels / day.

In a related development, the Ministry of Industry and Trade-Finance has decided to use the stabilization fund to keep gasoline prices in international oil prices are climbing. In other words even though the price of petroleum products in the world increased by 15 days, but the operator has decided to keep domestic prices stable.

Accordingly, the operator decided to allow business to continue discharging the stabilization fund and keep the retail price of gasoline. Thus, the price of petroleum products on the market popular consumer as follows: Petrol E5RON92 not higher 16 272 VND / liter; RON95 petrol is not higher than 17 603-III / liter; Diesel 0.05 seconds is not higher than 14 909 VND / liter; Oil no higher than 14,185 dong / liter; 3.5 secs 180CST mazut oil no higher than 13,275 VND / kg.

According to the operator, to keep the retail price of gasoline to help control inflation, stabilize the macro economy, contribute to reduce the input costs of manufacturing enterprises and business support daily life of people.

However, many predicted that the ability stamina domestic petrol prices will be broken and to this domestic fuel price increase is unavoidable. But the global economic picture could reverse oil prices.

First, with rising prices attractive, manufacturers of US shale oil production will increase as the prices balance supply and demand will reduce heat.

Monday, the major economies such as the US, Europe and Asia are showing signs of growth slowdown, demand for oil and raw materials slowed oil price also makes the painting difficult to predict with certainty.