Gasoline price today July 16: Mixed fluctuations in tomorrow's operating period?

World oil prices continue to decrease by about 1%. Domestically, after a week of increase, gasoline prices at the management session tomorrow afternoon (July 17) may fluctuate in opposite directions, with gasoline prices decreasing and oil prices increasing.

On July 16, oil prices decreased slightly, Brent oil decreased by 0.50 USD/barrel, equivalent to 0.7% to 68.71 USD/barrel; WTI oil decreased by 0.46 USD/barrel, equivalent to 0.7%, to 66.52 USD/barrel.

According to Reuters, US President Donald Trump's decision to extend sanctions against Russia for 50 days temporarily eased concerns about tightening oil supplies in the short term. However, some analysts also said that if the US implements new sanctions against Russia as well as countries importing oil from Russia - this will completely change the outlook for the oil market.

China, India and Türkiye are currently the three largest importers of Russian crude oil. Analysts say these markets may be weighing the benefits of buying cheap Russian oil against the costs of exporting their goods to the United States.

World oil prices have slightly decreased, which may help domestic gasoline prices decrease slightly this week. PHOTO: REUTERS

In another development, US President Donald Trump announced that he would impose a 30% tariff on most goods imported from the EU and Mexico from August 1. The new tariffs will increase the risk of slowing global economic growth, leading to weaker fuel demand and putting downward pressure on oil prices.

Domestically, data updated this morning (July 16) shows that in the price adjustment session tomorrow afternoon (July 17), retail gasoline prices may be slightly adjusted in the direction of gasoline prices decreasing and oil prices increasing, but the fluctuations are not significant. In particular, gasoline prices are forecast to decrease by only about 100 VND/liter, oil prices increase by about 100 VND/liter/kg. This forecast does not include the Petroleum Price Stabilization Fund.

Up to now, domestic gasoline prices are still at the lowest level in the past 4 years. On the morning of July 16, the retail discount on gasoline was commonly 1,000 VND/liter./.

According to Thanh Nien Newspaper

Source: https://baolongan.vn/gasoline-price-today-16-7-bien-dong-trai-chieu-vao-ky-dieu-hanh-ngay-mai-a198855.html