On the morning of July 12, gasoline and oil prices increased sharply. Brent crude oil increased by 1.72 USD, equivalent to 2.5%, surpassing the 70 USD mark to 70.36 USD/barrel; WTI crude oil price also jumped by 1.88 USD, equivalent to 2.8%, to 68.45 USD/barrel.
Thus, for the whole week, Brent oil price increased by 3%, while WTI oil price increased by about 2.2%.
According to the International Energy Agency (IEA), the global oil market is in a state of high demand driven by the peak refining season in the summer. The problem is that it is not the increase in crude oil production but the increase in refining and the increase in summer travel demand that is supporting the oil price to rise again.
Domestic gasoline prices are currently at 20,000 VND/liter. PHOTO: NHAT THINH
However, analysts say the increase is only short-term, when supply and demand stabilize again, the market will hardly be as "hot" as it is now. According to Reuters, the global benchmark Brent crude oil contract for September delivery is about $1.2 higher than the October contract. This is a signal that short-term demand is increasing sharply. Analysts also see the market beginning to realize that supply is becoming scarce.
According to the IEA's forecast, supply growth will increase this year but the demand growth outlook is uncertain. This suggests that the market may shift to a state of oversupply in the medium term...
Domestically, on the morning of July 12, the common retail prices of gasoline on the market were as follows: E5 RON92 gasoline is no higher than VND 19,659/liter; RON95-III gasoline is no higher than VND 20,090/liter; 0.05S diesel is no higher than VND 18,837/liter; kerosene is no higher than VND 18,371/liter; 180CST 3.5S fuel oil is no higher than VND 15,563/kg.
Regarding domestic gasoline prices, the Ministry of Finance is seeking opinions on the draft Resolution of the National Assembly Standing Committee on environmental protection tax on gasoline products. It is expected that environmental protection tax will continue to be reduced by 50% next year, 2026, with gasoline (excluding ethanol) at VND2,000/liter; diesel, fuel oil, and lubricants at VND1,000/liter; grease at VND1,000/kg; and kerosene at VND600/liter. The draft proposes a rate of VND2,000/liter for jet fuel instead of VND1,000/liter as at present./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1272025-bat-tang-manh-185250712084324864.htm
Source: https://baolongan.vn/gia-xang-dau-hom-nay-12-7-bat-tang-manh-a198600.html
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