Gasoline prices today (September 2): Increased due to weakening USD

World oil prices

Brent oil prices rose 1% in the first trading session of the week on September 1, amid concerns that the Russia-Ukraine conflict could disrupt supplies, while a weaker US dollar also supported oil prices.

According to Reuters, Brent oil price increased by 0.67 USD/barrel (equivalent to 0.99%), to 68.15 USD/barrel; WTI oil price increased by 0.6 USD/barrel (equivalent to 0.94%), to 64.611 USD/barrel.

Due to the Labor Day holiday in the US, the market did not record an official closing price for WTI oil on September 1. Trading volume for both types of oil also decreased due to the impact of the holiday.

World oil prices increased due to the weakening US dollar and concerns about supply disruptions from Russia. Illustration photo: Energy Now

The market remains concerned about oil flows from Russia, as weekly oil exports from the country’s ports fell to a four-week low of 2.72 million barrels per day, according to tanker tracking data cited by ANZ analysts.

Elsewhere, a U.S. labor market report due this week will provide a snapshot of the health of the economy and test investors’ confidence in the possibility of the Federal Reserve cutting interest rates soon, a view that is boosting demand for riskier assets such as commodities.

Before the data was released, the US dollar fell to a five-week low, making oil cheaper for buyers using other currencies.

OPEC+ is likely to continue raising its production target in the coming months. Photo illustration: Planet Energies

Investors are also turning their attention to Beijing, where Chinese President Xi Jinping, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi are attending the Shanghai Cooperation Organization Summit in the Chinese city of Tianjin.

China's manufacturing activity grew at its fastest pace in five months in August, a development that has supported oil and copper prices, said Bjarne Schieldrop, a commodity analyst at SEB.

“The next issue that the market is interested in is whether OPEC+ oil producers will continue to raise their production targets after September. A decision is expected to be made in the next few days,” said expert Tim Evans from Evans Energy.

According to HSBC experts, entering the late summer period, global oil inventories are expected to increase in the fourth quarter of 2025 and the first quarter of 2026, with a supply surplus of about 1.6 million barrels/day in the last quarter of the year.

Increased supply from OPEC+, coupled with rising inventories, could continue to pressure oil prices. In August, both Brent and WTI posted their first monthly decline after four consecutive months of gains, falling more than 6%.

Domestic gasoline prices

Domestic retail prices of gasoline on September 2, specifically as follows:

- E5RON92 gasoline: No higher than 19,771 VND/liter
- RON95-III gasoline: No higher than VND 20,363/liter
- Diesel 0.05S: Not higher than 18,357 VND/liter
- Kerosene: Not higher than 18,225 VND/liter
- Mazut oil 180CST 3.5S: Not higher than 15,260 VND/kg

In response to recent developments in world petroleum product prices, the above domestic petroleum retail prices were adjusted by the Ministry of Industry and Trade - Ministry of Finance from the afternoon of August 28. Accordingly, petroleum prices increased simultaneously. E5RON92 gasoline price increased by 307 VND/liter, RON95-III gasoline increased by 271 VND/liter, diesel increased by 452 VND/liter, kerosene increased by 411 VND/liter, and fuel oil increased by 144 VND/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-2-9-tang-do-dong-usd-suy-yeu-5057684.html