Gasoline prices today 9/5: Recovering back by inventories fell

Gasoline prices rebounded today after data showed US crude inventories unexpectedly fell. However, the increasing momentum stalled due to stress US – China issues unresolved, causing psychological fears that world oil demand fell.

World oil prices

At the time of 7h30 (now Vietnam), prices fell 0.2% to WTI 61.1 USD / barrel. 0.3% Brent fell to 69.5 USD / barrel.

End the session on Wednesday (8/5), crude oil prices rebounded after data showed US crude inventories unexpectedly fell. However, the increasing momentum stalled due to stress US – China issues unresolved, causing psychological fears that world oil demand fell.

Specifically, the price of WTI oil rose 1.2% to 62.12 USD / barrel. Brent oil prices rose 0.7% to 70.4 USD / barrel.

Energy Information Administration said US crude inventories fell 4 million barrels last week, contrary to forecasts of experts is increased 1.2 million barrels.

Gasoline inventories fell 596,000 barrels of oil, while inventories of crude oil processing products from 159,000 barrel decrease other.

This year, crude oil prices rose more than 30% thanks to crude oil supply outlook is accompanied by tightening sanctions imposed on Iran and Venezuela that oil exports from both countries fell.

However, oil prices are still under pressure by trade tensions US – China especially after the US announced it would raise the tax from 10% to 25% for imports from China worth $ 200 million.

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.

Duc Quynh 

According Economics & Consumer