Today's fuel prices (December 12): Turning around and falling.

Today's gasoline and oil prices (December 12): World oil prices reversed course and fell by more than 1% in the trading session on December 11, as the market was dominated by the prospect of peace negotiations between Russia and Ukraine and the continued sharp increase in US gasoline and oil inventories.

World oil prices

According to Oilprice, at the close of trading on December 11, Brent crude oil prices fell by $0.63 per barrel, or 1.01%, to $61.58 per barrel; WTI crude oil prices fell by $0.86 per barrel, or 1.47%, to $57.60 per barrel.

Both Brent and WTI crude oil fell by more than 1% in trading on December 11. (Illustration: Reuters)

According to experts, the downward price pressure mainly stems from the fuel oversupply situation in the US. The US Energy Information Agency (EIA) reported that gasoline inventories increased by 2.5 million barrels last week, while inventories of refined products, including diesel and heating oil, also rose by a similar amount. This development immediately impacted refining margins, weakening market sentiment.

According to Andrew Lipow, President of energy consulting firm Lipow Oil Associates: “The market is clearly being affected by significant excess gasoline and diesel inventories. This is reflected in sharply declining refining margins.”

Besides inventory data, geopolitical prospects are also contributing to the decline in oil prices. Positive signals surrounding the Russia-Ukraine peace efforts are creating expectations that supply from Russia could recover if an agreement is reached. Currently, much of Russia's oil is restricted from accessing Western markets due to sanctions, but a diplomatic thaw could pave the way for a stronger return of oil flows.

“Following news of the drone attack, oil prices received a slight boost at one point. However, signs that the two sides are moving closer to a path of peace have dampened market support,” said Phil Flynn, senior analyst at Price Futures Group.

According to the Ukrainian Security Service, a Ukrainian drone attacked a Russian oil rig in the Caspian Sea on Thursday, disrupting operations. However, the impact of this event was overshadowed by news that the leaders of Britain, France, and Germany simultaneously called US President Donald Trump to discuss Washington-led mediation efforts.

Meanwhile, Russia said that the recent visit to Moscow by US envoy Steve Witkoff helped resolve some misunderstandings between the two sides, and Moscow also sent Washington a package of proposals for collective security guarantees for Ukraine.

Illustration photo: Foxbusiness

Another factor attracting market attention was the US seizure of an oil tanker off the coast of Venezuela, amid escalating tensions between the two countries that raised concerns about supply disruptions. The incident was announced by US President Donald Trump, but details about the vessel were not released.

The British maritime risk management firm Vanguard said the oil tanker named Skipper is believed to have been seized off the coast of Venezuela.

"So far, the seizures have not impacted the market, but if the situation escalates further, it will cause significant volatility in crude oil prices," said Emril Jamil, senior research fellow at LSEG.

Amidst significant volatility, the latest reports from the International Energy Agency (IEA) and OPEC are also being closely watched. The IEA raised its forecast for global oil demand growth in 2026 while simultaneously revising down its supply growth forecast, implying that the surplus will narrow next year. Conversely, OPEC maintained its forecast for global oil demand growth in 2025 and 2026, reflecting a more cautious stance on the global economic outlook.

Domestic fuel prices

The retail prices of gasoline and diesel in Vietnam on December 12th are as follows:

E5RON92 gasoline	Not exceeding 19,615 VND/liter
RON95-III gasoline	Not exceeding 20,082 VND/liter
Diesel fuel 0.05S	Not exceeding 18,154 VND/liter
Oil	Not higher than 18,641 VND/liter
Fuel oil 180 CST 3.5S	Not higher than 13,393 VND/kg

The Ministry of Industry and Trade and the Ministry of Finance have announced adjustments to domestic retail fuel prices, effective from 3 PM on December 11th. Accordingly, gasoline prices will decrease by 207-378 VND/liter; and diesel prices will decrease by 43-252 VND/liter. Specifically, E5RON92 gasoline will decrease by 207 VND/liter, RON95-III gasoline by 378 VND/liter, diesel by 226 VND/liter, kerosene by 252 VND/liter, and mazut by 43 VND/kg.

According to the Ministry of Industry and Trade, the global oil market during this price adjustment period was influenced by several key factors, including: the US Federal Reserve's decision to lower interest rates; information related to the peace agreement between Russia and Ukraine; the ongoing military conflict between Russia and Ukraine; and Ukraine's attack on Russian oil tankers. These factors have caused global oil prices to fluctuate, rising and falling depending on the specific product in recent days.

Thus, since the beginning of the year, domestic fuel prices have undergone 50 adjustments, including 27 increases and 23 decreases for RON95 gasoline; 24 increases, 25 decreases, and 1 time the price remained unchanged for diesel fuel.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-12-12-quay-dau-giam-5067843.html