Gasoline prices today July 29: World prices increase, how is it domestically?

World oil prices rose more than 2% in the first trading session of the week after the US and EU reached a framework trade agreement. Domestically, petroleum products are forecast to fluctuate slightly in the price adjustment period this week (Thursday, July 31).

On the morning of July 29, oil prices rebounded, Brent crude oil increased by 1.60 USD/barrel, equivalent to 2.3%, to 70.04 USD/barrel; WTI crude oil increased by 1.55 USD/barrel, equivalent to 2.4%, to 66.71 USD/barrel.

Brent crude oil prices hit a 10-day high after US President Donald Trump said he would shorten the 50-day deadline he gave Russia over the conflict in Ukraine to 10-12 days. In addition, the US-EU framework trade agreement has supported the fuel market. Information shows that the US will impose a 15% tariff on most goods imported from the EU, while the EU pledged to buy $750 billion in energy from the US in the coming years.

Domestic gasoline prices are commonly below 20,000 VND/liter. PHOTO: NHAT THINH

Analysts say the deal not only bolsters the US energy industry, but also increases pressure on Russian President Vladimir Putin to return to the negotiating table.

In other developments, news that the US-China trade talks are likely to extend the tariff suspension for another 90 days, before the August 12 deadline, is also helping to push oil prices up. The rising oil price momentum is being hampered by a rising US dollar and falling oil production in India, the world’s second-largest oil importer.

Domestically, updated prices of finished petroleum products on the Singapore market as of this morning (July 29) show that the estimated retail price of domestic petroleum is slightly higher than the world price, an increase of around 100 VND/liter. However, this forecast may change if the world oil price continues to increase in the next 2 sessions.

On the morning of July 29, the retail price of gasoline announced by the Ministry of Finance - Industry and Trade on the market was as follows: E5 RON92 gasoline 19,279 VND/liter, RON 95-III gasoline 19,709 VND/liter, diesel oil 19,129 VND/liter, kerosene 18,628 VND/liter, mazut oil 15,379 VND/kg./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2972025-the-gioi-bat-tang-trong-nuoc-the-nao-185250729084958061.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-29-7-the-gioi-bat-tang-trong-nuoc-the-nao-a199703.html