World oil prices fell slightly

Gasoline and diesel prices today, September 30, 2024

According to Oilprice at 5:00 AM on September 30, 2024 (Vietnam time), WTI crude oil was priced at $68.19 per barrel, down 0.01% (equivalent to a decrease of $0.01 per barrel).

WTI oil prices on the world market early morning of September 30 (Vietnam time)

Similarly, Brent crude oil prices stood at $71.86 per barrel, down 0.17% (equivalent to a decrease of $0.12 per barrel).

Brent crude oil prices on the world market early morning of September 30 (Vietnam time)

Oil prices continued to fall today as Saudi Arabia, the world's leading crude oil exporter, and OPEC+ announced plans to increase production.

Two OPEC+ sources said the group will continue to increase oil production in December, and the impact will not be significant if some members plan larger production cuts to offset the overproduction in September and subsequent months.

However, oil prices are being constrained by China's monetary easing to boost economic growth, the ongoing conflict in the Middle East showing no signs of abating and even risking escalation; and declining US inventories of gasoline, oil, and distillates.

Last week, factors limiting the decline in oil prices included China's monetary easing to boost economic growth; the ongoing conflict in the Middle East showing no signs of abating, and even posing a risk of escalation; and a decrease in US inventories of gasoline, oil, and refined products.

Data from the U.S. Energy Information Administration shows that in the week ending September 20, U.S. crude oil inventories fell by 4.5 million barrels, more than three times the 1.4 million barrel decrease analysts had expected. Meanwhile, U.S. gasoline and distillate inventories also fell by 1.5 million barrels and 2.2 million barrels, respectively.

Also last week, in its annual outlook report, the Organization of Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand in the medium and long term. OPEC expects global oil demand to reach 118.9 million barrels per day by 2045, about 2.9 million barrels per day higher than projected in last year's report. The report also projects demand to reach 120.1 million barrels per day by 2050.

Domestic retail gasoline and diesel prices on September 30, 2024, are applied according to the adjustment made at 3 PM on September 26 by the Joint Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference compared to the previous period
E5 RON 92 gasoline	19,629	+679
RON 95 gasoline	20,518	+756
Diesel	17,506	+463
Oil	17,873	+322
Fuel oil	15,357	+531

Specifically, the price of E5 RON 92 gasoline increased by 679 VND/liter, reaching 19,620 VND/liter; RON 95 gasoline increased by 756 VND/liter, reaching 20,518 VND/liter.

Diesel fuel 0.05S increased by 463 VND/liter, reaching 17,506 VND/liter; kerosene increased by 322 VND/liter, reaching 17,873 VND/liter; fuel oil 180CST 3.5S increased by 531 VND/kg, reaching 15,357 VND/kg.

During this price adjustment period, the Ministry of Industry and Trade - Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.