Gasoline price this afternoon 7/24 is expected to decrease, oil price may increase slightly

This afternoon, July 24, domestic retail gasoline prices are forecast to continue to decrease, marking the second consecutive downward adjustment. On the contrary, oil prices are likely to increase slightly.

Gasoline prices drop for second consecutive day, oil likely to increase slightly

According to forecasts, E5 RON92 gasoline will decrease by about 160 VND/liter, down to 19,320 VND/liter, while RON95 gasoline will decrease by 162 VND/liter, down to 19,758 VND/liter.

On the contrary, diesel prices may increase by VND374/liter (2%), kerosene by 1.1%, and fuel oil by 0.8%. The Vietnam Petroleum Institute (VPI) said that the Ministry of Finance and the Ministry of Industry and Trade will not draw from the price stabilization fund this period.

In the previous adjustment period (July 17), the price of E5 RON92 gasoline decreased by 178 VND/liter, and RON95 decreased by 165 VND/liter. Meanwhile, the price of diesel and fuel oil decreased, while kerosene increased by 58 VND/liter.

Since the beginning of 2025, gasoline prices have undergone 28 adjustments, with 11 decreases, 12 increases and 5 opposite changes.

World oil prices continue to fall: Impact from trade tensions and geopolitical factors

On the world market, at 5:30 a.m. on July 24 (Vietnam time), Brent oil price was at 68.19 USD/barrel (down 0.42 USD) and WTI oil price was at 64.91 USD/barrel (down 0.41 USD). Both types of oil continued to decline after the European Union (EU) considered countermeasures against US tariffs.

US President Donald Trump also announced that the US and Japan have reached a trade deal, including a 15% tariff on imports from Japan. However, oil market analyst Vandana Hari of Vanda Insights said that while the decline may slow down, the news is unlikely to provide much of a boost as the obstacles in negotiations with the EU and China remain a psychological drag.

The European Commission is expected to propose that member states impose retaliatory tariffs on 93 billion euros ($109 billion) of US goods, although it still prefers a negotiated solution to avoid Washington's 30% tariff.

Investors are also awaiting U.S. crude oil inventory data from the Energy Information Administration (EIA), due later Wednesday. One factor that could support oil prices is the U.S. considering imposing sanctions on Russian oil in an effort to end the conflict in Ukraine.

Source: https://baonghean.vn/gia-xang-chieu-nay-24-7-du-bao-giam-dau-co-the-tang-nhe-10303040.html