Gasoline price today 8/6: Oil price surged at the beginning of the week
Update gasoline price today 8/6, domestic gasoline market went sideways after the gasoline price adjustment period on 28/5, while world oil prices increased sharply in the first session of the week.
price June 8: Opening the first session of the week, gasoline price today on the world market increased sharply after OPEC + extended the agreement to cut production until the end of July 7/2020.
Specifically, the price of light sweet crude oil WTI on New York Mercantile Exchanghe delivered in August 2020 was 0.79 USD / barrel during the session, to 40.59 USD / barrel.
Meanwhile, the price of Brent oil delivered in August 2020 also increased by 1.02 USD / barrel to 43.32 USD / barrel.
Accordingly, the agreement just reached in the meeting, oil production cuts will remain at 9.7 million barrels a day. At the same time, OPEC + also requires Nigeria and Iraq to cut production in July to September to compensate for the excess oil exploited in May and June.
According to the plan, OPEC + will meet again in In mid-June to review the oil market, this meeting will take place under the supervision of the Ministerial General Supervision Committee (JMMC). The purpose is to consider whether to cut further production and to create a new cut in August.
Market experts said that crude oil prices may skyrocket in today’s session.
The price of crude oil in the world increased in part because President Trump, Mr. Trump once threatened to withdraw his troops from Saudi Arabia if the country did not act quickly to stabilize oil prices.
Saudi Oil Minister Saudi Arabia said oil demand was increasing when the economy reopened, but the reality was still very difficult and challenging.
However, the world crude oil price is still under great pressure as the Covid-19 epidemic is still booming in many countries in South America, the Middle East and Africa.
Domestic gasoline prices on 8/6:
Opening the trade this morning on 8/6, petrol prices in the country increased after the afternoon price adjustment of 28/5.
In particular, the prices of petroleum products popular in Region 1 and Zone 2 in today 8/6 are as follows:
Petrol price A95 fluctuates between 13,120 – 13,480 dong/Liter.
Gasoline prices E5 at 12,400 – 12,640 dong/Liter.
Oil prices are reached at 9,940 – 10,440 dong/Liter.
Kerosene cost 7,960 – 8,110 dong/Liter.
Previously, afternoon dated 28/5/2020, the financial Union – the trade made decisions on adjusting the retail price of petroleum in cycles of 15 days/times. The alliance adjusts the simultaneous increase of gas prices and oil prices.
Accordingly, after the implementation of the establishment and the expense of use of the oil and gas price stabilization, adjust the selling prices of common petroleum products in the market as follows:
Gasoline E5RON92: Increase 882 dong/liter, not higher than 12,402 copper/liter;
RON95-III gasoline: Increase 890 dong/liter, not higher than 13,125 copper/liter;
Diesel oil 0.05 S: Increase 892 dong/liter, not higher than 10,749 copper/liter;
Kerosene: Increase 875 dong/liter, not higher than 8,757 copper/liter;
Mazut 180CST 3.5 S Oil: Increased 947 VND/kg, not higher than 9,492 VND/kg.