On the morning of June 2, gasoline and oil prices increased simultaneously . At 7:30 a.m. (Vietnam time), US WTI oil increased by more than 2%, trading at 62 USD/barrel; Brent oil, the global standard, also increased by about 2%, approaching 64 USD/barrel.
According to Reuters, the global oil market faced many unstable factors last week, as increased supply from the Organization of the Petroleum Exporting Countries and its allies (OPEC +) and concerns about global economic growth continued to put pressure on oil prices.
At its meeting in late May, OPEC+ decided to increase production by 411,000 barrels per day in July, after making similar increases in May and June. This decision could increase concerns about the risk of oversupply in the market, when oil demand has not shown signs of recovery.
Domestic gasoline prices are currently at 19,000 VND/liter. PHOTO: NHAT THINH
On Reuters, analysts have lowered their forecast for the average Brent price this year to $66.98 per barrel, down $2 from the previous forecast of $68.98 per barrel. Similarly, the price of WTI oil has also been adjusted down to $63.35 per barrel. The main reason is due to concerns about slow global economic growth and uncertainties caused by the trade war between major economies.
Last week, domestic gasoline retail prices were adjusted in opposite directions, with gasoline prices increasing slightly and oil prices decreasing. World gasoline prices are still fluctuating unpredictably, causing domestic prices to continue to fluctuate. Updated data so far shows that the market is reversing, this week, domestic gasoline prices may decrease slightly and oil prices increase slightly.
In another development, regarding the Petroleum Price Stabilization Fund, from October 2023 to now, this fund has never been used for spending/deduction in price management. According to the Department of Domestic Market Management and Development - Ministry of Industry and Trade , by the end of 2024, the Petroleum Price Stabilization Fund has a surplus of VND 6,067.2 billion.
This balance is currently held at 30 major petroleum traders. In the most recent price adjustment (May 29), Petrolimex - the enterprise holding more than 50% of the domestic petroleum retail market share - reported that the enterprise's Price Stabilization Fund balance was estimated at about VND3,083 billion./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-xang-dau-hom-nay-262025-bat-tang-manh-18525060208033937.htm
Source: https://baolongan.vn/gia-xang-dau-hom-nay-02-6-bat-tang-manh-a196392.html
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