Gasoline price today July 23: World oil price continues to plummet

Today, the price of gasoline and oil in the international market continues to decrease sharply. In the country, the retail price of gasoline and oil products remains stable.

World oil prices fell for the third consecutive session

In the early morning of July 23 (Vietnam time), Brent crude oil price fell to 68.22 USD/barrel, down nearly 1 USD compared to the previous session. WTI oil also fell sharply to 66.08 USD/barrel, marking the third consecutive session of decline. The main reason is concerns that the trade war between the US and the European Union could slow down economic growth and reduce energy consumption demand.

According to experts, the market is under pressure as the deadline for trade agreements between the US and the EU is approaching. President Trump has warned that he will impose a 30% tariff on goods imported from Europe if an agreement is not reached by August 1.

Although the weaker US dollar helped limit the decline in oil prices, expectations of low demand still prevailed, putting pressure on the market.

Domestic market keeps old price

In Vietnam, domestic gasoline prices on July 23 remained unchanged compared to the adjustment on July 17. Currently, the price of E5 RON92 gasoline is at VND19,481/liter and RON95 gasoline is at VND19,925/liter. Diesel and fuel oil prices also recorded low levels, while kerosene prices increased slightly by VND58/liter.

Fuel type	Maximum price	Unit of measure
E5 RON92 gasoline	19,481 VND/liter	Liter
Gasoline RON95-III	19,925 VND/liter	Liter
Diesel 0.05S	18,799 VND/liter	Liter
Oil	18,429 VND/liter	Liter
Mazut oil 180CST 3.5S	15,478 VND/kg	Kilogram

According to the Ministry of Industry and Trade , the recent management period was affected by many factors such as: US crude oil inventories decreased, distillate supply increased, OPEC+ adjusted demand forecasts and global geopolitical developments.

Forecast of downtrend in next correction period

With the sharp decline in world oil prices, many experts and businesses predict that domestic gasoline prices may continue to be adjusted downward in the next adjustment period (July 24). The expected reduction is about 200 - 300 VND/liter, depending on the type of product.

Source: https://baodanang.vn/gia-xang-dau-hom-nay-23-7-gia-dau-the-gioi-tiep-tuc-lao-doc-3297627.html