Gasoline prices today 17/5: Continue up more than 1% after the retaliation of Saudi Arabia, domestic gas prices may fall today

Gasoline prices continue to rise sharply today than 1% due to tensions in the Middle East following escalation of retaliatory moves by Saudi airstrikes.

World oil prices

At the time of 7h30 (now Vietnam), WTI oil price rose 0.2% to 63 USD / barrel. Brent oil prices rose 0.2% to 72.7 USD / barrel.

End the session on Thursday (15/5), crude oil prices continued to increase more than 1% due to tensions in the Middle East following escalation of retaliatory moves by Saudi airstrikes.

WTI oil price rose 1.4% to 62.9 USD / barrel. Meanwhile, Brent oil prices rose 1.2% to 72.6 USD / barrel.

16/5 days, coalition led by Saudi Arabia have conducted several air strikes against targets of insurgent forces Houthis rebels in Yemen’s capital Sanaa.

The move comes after Houthis admit conducted 2 attack Saudi Arabia’s oil pumping station using unmanned aircraft.

Earlier, Deputy Minister of Defense Arab Emirates have accused Iran ordered attack the country’s oil pumping station using unmanned aircraft.

Tensions escalated in the Middle East made the market worried crude supply disruptions. This has pushed prices up in recent times.

US gasoline prices at 7:30 sideways at $ 2 / gallon.

Vietnam gasoline prices

Afternoon of 2/5, Union Ministry of Trade – Finance for the adjustment of petroleum prices. After the implementation of the appropriation and expenditure using Stabilization Fund gasoline prices, adjusted price of gasoline consumer goods popular in the market as follows:

Petrol E5RON92: increased 985 VND / liter;

RON95 petrol-III: increased 956 VND / liter;

Diesel 0.05 seconds: increased 311 VND / liter;

Oil: increased 363 VND / liter;

Fuel Oil 180CST 3.5 secs: increased 385 dong / kg.

Thus, consumer gasoline prices common on higher market prices:

Gasoline E5RON92: not more than 20 688 high copper / liter;

RON95 petrol-III: no higher 22 191 VND / liter;

Diesel 0.05 seconds: no more than 17 695 high copper / liter;

Kerosene: not more than 16 625 high copper / liter;

Fuel Oil 180CST 3.5 secs: not more than 16 002 high / kg.

According to VnExpress, led a petroleum trading hub in HCMC said that gasoline prices have started 2 weeks should cool down this adjustment period operator can discount.

Accordingly, if the management agency criticized and retain the stabilization fund, the exhaust gas prices may reduce 600-800 dong per liter, oil was around 200 copper. Conversely, if the operator continues to extract and use the stabilization fund, 50/50 (the fund has spent just discounted) price of gasoline can mitigate 300-400 dong per liter.

“Although gasoline prices fell sharply but still the enterprise sound stabilization fund. Therefore, any operating management agency will still extract more funds and gasoline prices are still forced to adjust the market price due to continuous increase in the last time, “business leaders in the Pacific

Duc Quynh

According Economics & Consumer