Oil price 11/23: World oil hits 1-month low, gasoline slightly down

Brent and WTI crude oil prices both fell more than 3% this week, putting pressure on the market. Domestically, RON95 and E5RON92 gasoline prices were adjusted down slightly from 3:00 p.m. on November 23.

Domestic retail gasoline prices adjusted down

From 3 p.m. on November 23, the Ministry of Industry and Trade and the Ministry of Finance adjusted the retail price of gasoline in the country. Accordingly, most products have decreased in price, except for kerosene. This move took place in the context of the world crude oil price continuing to decline, reaching the lowest level in a month.

Item	New price (VND/liter/kg)	Change rate (VND/liter/kg)
E5RON92 gasoline	19,807	-37
RON95-III gasoline	20,542	-34
Diesel oil 0.05S	19,826	-38
Oil	20,288	+353
Fuel oil	13,739	-335

During this operating period, the management agency decided not to set aside and not to use the Price Stabilization Fund for all petroleum products.

World crude oil market developments

In the international market, oil prices recorded a significant decline. Recorded at 4:30 a.m. on November 23 (Vietnam time), Brent oil price fell to 62.56 USD/barrel, down 1.29%. Similarly, WTI oil price also decreased 1.59%, down to 58.06 USD/barrel.

For the week, both benchmarks lost about 3%, closing at their lowest levels in a month. The declines were reinforced on November 22, when Brent lost nearly $1 to $62.44 a barrel and WTI retreated to $57.94 a barrel.

Gasoline price today 2311 Continues to decrease sharply, expected to decrease further next week

Factors affecting oil prices

The global energy market is under pressure from many factors:

• Potential supply from Russia: Signals of a peace plan between Russia and Ukraine have raised concerns that Russian crude oil supplies could rise again, putting pressure on prices.
• Strong dollar: The US dollar rose to a six-month high, making crude oil more expensive for investors holding other currencies.
• Weakening demand outlook: US manufacturing data for November fell to a four-month low, raising concerns about the outlook for energy consumption.

Gasoline price forecast next week

With the negative developments in the world market, many experts predict that domestic retail gasoline prices may continue to be adjusted downwards in the next management period. The estimated reduction could be up to 770 VND/liter depending on the product.

According to statistics since the beginning of the year, domestic gasoline prices have undergone 48 adjustments, of which RON95 gasoline has increased 26 times and decreased 22 times.

Source: https://baolamdong.vn/gia-xang-dau-2311-dau-the-gioi-cham-day-1-thang-xang-giam-nhe-404661.html