World oil price loses 1 USD, domestic gasoline price may increase sharply

World oil prices fell more than 1 USD. Illustration photo: Oil and Gas Group

Specifically, Brent crude oil price decreased by 1.17 USD, equivalent to 1.4%, to 81.38 USD/barrel. US WTI oil price decreased by 1.23 USD, equivalent to 1.6%, to 76.64 USD/barrel.

Brent oil price is trading at 81.38 USD/barrel. Photo: screenshot

US crude oil inventories rose sharply by 12 million barrels to 439.5 million barrels last week, far exceeding analysts' expectations for an increase of 2.6 million barrels, according to the US Energy Information Administration.

Separately, crude oil refinery runs fell 298,000 barrels per day (bpd) to 14.5 million bpd last week, and refinery utilization fell 1.8 percentage points to 80.6% of total capacity.

Meanwhile, the chairman of the US House Intelligence Committee warned of a serious national security threat, which has some oil investors worried.

John Kilduff, partner at New York-based Again Capital, commented that the risk of war or terrorism outside the producing region would cause oil prices to fall because demand is expected to be affected.

Also weighing on the oil market are geopolitical factors, including conflicts in the Middle East and Russia-Ukraine and a growing view that US interest rate cuts will start later.

Domestically, this afternoon, the retail price of gasoline and oil will be adjusted by the Ministry of Finance - Ministry of Industry and Trade in the periodic price management period. It is likely that gasoline and oil prices will increase sharply in the range of 500-700 VND/liter (kg) due to the sharp increase in world gasoline and oil prices last week.

The retail price of gasoline in the country on February 15 is as follows: E5 RON 92 gasoline is not more than VND 22,120/liter; RON 95-III gasoline is not more than VND 23,260/liter; diesel oil is not more than VND 20,700/liter; kerosene is not more than VND 20,580/liter; fuel oil is not more than VND 15,590/kg.

Source: https://laodong.vn/kinh-doanh/gia-dau-the-gioi-mat-1-usd-gia-xang-dau-trong-nuoc-co-the-tang-manh-1304131.ldo