Gasoline price today (June 30): Slight decrease

World oil prices are expected to decrease slightly this week. Domestically, gasoline prices are expected to be adjusted down this week.

World oil prices

Last week, world oil prices witnessed mixed increases and decreases. Previously, oil prices had skyrocketed to over $80/barrel before the Israel-Iran conflict escalated after Israel’s attack on Iran’s nuclear facilities on June 13. Unexpectedly, the ceasefire between Israel and Iran announced by US President Donald Trump quickly caused oil prices to plummet.

At the beginning of the first trading session of the week, world oil prices fell slightly in the context of easing tensions in the Middle East.

According to Oilprice, at 5:30 a.m. (Vietnam time), Brent oil price decreased slightly by 0.44 USD/barrel, equivalent to 0.65%, to 67.33 USD/barrel; WTI oil price decreased by 0.53 USD/barrel, equivalent to 0.81%, to 64.99 USD/barrel.

World oil prices are expected to fall this week. Illustration photo: Outlook India

However, experts still warn that the risk of conflict escalation still exists and the market is still closely monitoring developments in the Strait of Hormuz - the gateway for transporting energy from the Middle East to the world.

“As geopolitical risks ease, all eyes turn to other factors,” said Rystad analyst Janiv Shah.

In particular, basic data on actual supply and demand; information that OPEC+ may increase oil production in July or US crude oil inventory reports are factors that directly affect world oil prices.

Expectations of higher demand in the coming months provided a boost to oil prices on June 27, said Phil Flynn, market analyst at Price Futures Group.

Oil prices were also supported by a series of reports on oil inventories. In the US, government data showed crude and fuel inventories fell last week, while refining activity and demand increased.

In Europe, data on June 26 showed that refined fuel stocks at the Amsterdam-Rotterdam-Antwerp (ARA) hub fell to their lowest level in more than a year. In Asia, Singapore's distillate stocks also fell as net exports increased from the previous week.

In the short term, world oil prices are expected to continue to adjust within a narrow range. On the one hand, signals of reconciliation from the Middle East continue to restrain the increase. On the other hand, solid demand in the US and a weak USD are creating support for oil prices.

Investors are still closely monitoring economic data and interest rate decisions from the US Federal Reserve (Fed), which are considered factors that can shape oil price trends in the coming time.

Domestic gasoline prices

Domestic retail prices of gasoline on June 30, specifically as follows:

E5RON92 gasoline: Not higher than VND 20,911/liter.

RON95-III gasoline: No higher than VND 21,507/liter.

Diesel 0.05S: Not higher than 19,707 VND/liter.

Kerosene: Not higher than 19,417 VND/liter.

Mazut oil 180CST 3.5S: Not higher than 17,269 VND/kg.

The above domestic retail prices of gasoline and oil were jointly adjusted by the Ministry of Industry and Trade and the Ministry of Finance in the price management session on the afternoon of June 26. In this adjustment, the price of E5RON92 gasoline increased by VND280/liter, RON95-III gasoline increased by VND263/liter; diesel oil price increased by VND551/liter; kerosene increased by VND494/liter; and mazut oil in this period decreased by VND374/kg.

In this management period, in response to the developments in world oil prices, fluctuations in the VND/USD exchange rate and current regulations, the Ministry of Industry and Trade - Ministry of Finance decided on a plan to manage oil prices to ensure that domestic oil price fluctuations are consistent with world oil price fluctuations; continue to maintain the price difference between E5RON92 biofuel and RON95 mineral gasoline at a reasonable level to encourage the use of biofuels according to the Government's policy, ensuring the harmony of interests among market participants.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-30-6-giam-nhe-5051720.html