World oil prices
At 6:00 a.m. on May 1, Brent crude oil was trading at $87.86 per barrel, down $0.54 from the previous session. WTI crude oil was trading at $81.93 per barrel, down $0.7 from the previous session.
Oil prices plunged amid ceasefire talks in the Gaza Strip taking place in Cairo, Egypt.
A proposal by Israel and Egypt for a ceasefire in the Gaza Strip has eased fears of a wider conflict in the region.
Oil prices plummeted today. (Photo: Reuters).
According to analysts, increased efforts to reconcile and move towards a ceasefire between Israel and Hamas have eased geopolitical tensions and cooled oil prices.
Meanwhile, investors are watching the US Federal Reserve's (Fed) moves in its policy meeting scheduled to end today, amid persistent inflation in the US that is "hindering" the path of interest rate cuts.
Some investors even think the Fed will raise interest rates by another 0.25 percentage points this year and next, as inflation and the labor market have not met expectations.
US inflation rose moderately in March, reducing expectations of a Fed rate cut in the near future.
Domestic gasoline prices
From 3:00 p.m. on April 25, the price of E5 RON92 gasoline decreased by 307 VND/liter, not higher than 23,919 VND/liter compared to the current price, the price of RON95 gasoline decreased by 322 VND/liter, not higher than 24,915 VND/liter.
The prices of various types of oil have changed as follows: Diesel oil has decreased by 730 VND/liter, not higher than 20,716 VND/liter; Kerosene has decreased by 730 VND/liter, not higher than 20,686 VND/liter. The price of fuel oil has increased by 202 VND/kg, not higher than 17,408 VND/kg.
Thus, with this reduction, gasoline prices have left the 25,000 VND/liter mark.
During this operating period, the management agency decided not to set aside or use the Petroleum Price Stabilization Fund for any products.
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