Gasoline prices today 2/12: Increased 1.5% early last week more OPEC meeting +

Gasoline prices rose 1.5% today after falling sharply over 4% last week amid expectations OPEC + market will continue to extend the agreement to reduce output of crude oil.

World oil prices

At the time of 7h30 (now Vietnam), WTI oil price rose 1.5% to 56 USD / barrel, while Brent crude rose 0.7% to 61.2 USD / barrel.

End the session on Friday (29/11), crude oil prices fell sharply by 4%. Brent fell 1.4 USD to 62.4 USD / barrel. Meanwhile, WTI oil prices fell 4% to 55.17 USD / barrel. Generally November, WTI and Brent oil prices rose 2.3% and 6 respectively%.

Monday 29/11, Energy Minister Alexander Novak said Russia wants OPEC + decision renewed production cuts to March 3/2020.

The stance of Russia and President Donald Trump, who has signed two bills to support the protests riots in Hong Kong against Beijing, a move that threatens to further for the trade talks US – China , causing crude oil fell 5% this week.

According, there is the possibility that OPEC will continue the current agreement at least until the end of 2020, but the possibility of a new cut is still limited in the context of some countries do not comply with the define commitments and declining oil profits.

However, if OPEC does not cut output further, it’s hard to imagine oil market would like. In the last week, both WTI and Brent oil prices fell more than 4%.

Outlook for OPEC, data from the Energy Information Administration, the US (EIA) on April 29/11 showed monthly oil exports in September last US exceeded imports 89,000 barrels / day, increased its position as a net exporter of crude oil products since 1949.

Gasoline prices Vietnam

Afternoon of 30/11, Union Ministry of Trade – Finance adjusted gasoline prices. Accordingly, after the implementation of the appropriation and expenditure using Stabilization Fund gasoline prices, the price adjustment of petroleum products common consumer market as follows:

Petrol E5RON92: increased 312 VND / liter;

RON95 petrol-III: increased 283 VND / liter;

Diesel 0.05 seconds: up 25 / liter;

Kerosene: down 6 / liter;

Fuel Oil 180CST 3.5 secs: decreased 754 VND / kg.

Thus, the price of petroleum products common consumer market is not higher than prices:

Gasoline E5RON92: not more than 19 819 high copper / liter;

RON95 petrol-III: no higher 21 079 VND / liter;

Diesel 0.05 seconds: no more than 15 988 high copper / liter;

Kerosene: not more than 14 962 high copper / liter;

Fuel Oil 180CST 3.5 secs: not more than 11 188 high / kg.

Official prices with effect from 3 pm on 30/11.