Gasoline prices today June 20: Strong increase across the board

On the morning of June 20, gasoline and oil prices increased sharply, Brent oil increased by 1.48 USD, equivalent to 1.9%, to 78.18 USD/barrel; WTI oil increased by 1.72 USD, equivalent to 2.3%, to 76.86 USD/barrel.

At this rate, oil prices could surpass $80 per barrel in a short time. On Reuters, Citibank analysts said that tensions between Iran and Israel could keep Brent oil prices high, up about 15-20% compared to the time before the conflict. Citibank predicted that if Iran's oil exports were interrupted for a long time, oil prices could rise to $90 per barrel.

The closure of the Strait of Hormuz could cause a sharp price shock, but this would be short-lived as the countries involved would quickly find a way to resolve the situation and reopen the route.

Domestic gasoline prices have just been adjusted to increase sharply (PHOTO: NHAT THINH)

The conflict between Iran and Israel has raised concerns about the risk of supply disruption in the Middle East. This is also an important and large oil producing region of the world . Iran is currently OPEC's third largest oil producer, with a daily output of about 3.3 million barrels. JP Morgan Bank even said that if the regional conflict spreads and the Strait of Hormuzv (Iran) is closed, oil prices could skyrocket to 120 - 130 USD/barrel.

However, analysts also note that oil prices may not be affected too much by the drop in demand. China is limiting its purchases because of high oil prices, and rising supplies from other parts of the world will offset the expected disruption.

Domestically, with world price developments, domestic gasoline prices may continue to increase next week.

Yesterday afternoon (June 19), the Ministry of Finance - Ministry of Industry and Trade adjusted the price of all petroleum products sold domestically. Accordingly, the new price of E5 RON92 gasoline is 20,631 VND/liter, an increase of 1,169 VND/liter compared to the current price; the new price of RON 95-III gasoline is 21,244 VND/liter, an increase of 1,277 VND/liter.

Diesel 0.05S has a new price of 19,156 VND/liter, an increase of 1,456 VND/liter; kerosene has a new price of 18,923 VND/liter, an increase of 1,412 VND/liter and mazut 180CST 3.5S is adjusted to 17,643 VND/kg, an increase of 1,182 VND/kg.

In this adjustment period, the Petroleum Price Stabilization Fund is still not mentioned./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2062025-dong-loat-tang-manh-185250620063759096.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-20-6-dong-loat-tang-manh-a197366.html