Gasoline price today October 7: World keeps increasing, domestic price may decrease?

The OEPC+ production increase plan is supporting oil prices to rise again; domestic gasoline prices are forecast to decrease slightly in this week's adjustment period.

On the morning of October 7, oil prices continued to increase, Brent oil increased by 0.94 USD/barrel, equivalent to 1.46%, to 65.47 USD/barrel; while WTI oil increased by 0.81 USD/barrel, equivalent to 1.33%, to 61.69 USD/barrel.

Analysts say the news that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to continue increasing production from November has supported oil prices. The reason is that the group's continuous increase in production makes the market feel that the actual amount of oil supplied is significantly lower than the published figures.

Previously, on October 5, OPEC+ announced that it would increase oil production by 137,000 barrels per day from November. The group opted to maintain a modest monthly increase similar to October, amid persistent concerns about the risk of an upcoming supply glut. Before the meeting, some information said that Russia supported an increase of 137,000 barrels per day to avoid putting pressure on oil prices, while Saudi Arabia wanted that number to be double, triple, or even quadruple in order to quickly regain market share.

World oil prices continued to rise after the first session of the week. PHOTO: REUTERS

In the short term, some analysts predict that the slowdown in global refinery operations due to maintenance will put some pressure on market sentiment. Analysts say that if production continues to increase steadily, the possibility of a sharp drop in oil prices will be limited. Now everything depends on whether the US economy can recover its growth rate in the last months of this year and early next year. This factor will play a key role in boosting consumption demand.

Domestically, the updated price of finished petroleum products as of this morning shows that domestic petroleum prices in the price adjustment session this Thursday afternoon (October 9) are estimated to decrease by around 600 VND/liter. The forecast does not include the Petroleum Price Stabilization Fund and fluctuations in oil prices on the world market in the next 2 sessions, if any./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-7102025-the-gioi-giu-da-tang-trong-nuoc-co-the-giam-185251007082435323.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-07-10-the-gioi-giu-da-tang-trong-nuoc-co-the-giam-a203958.html