World oil prices
At 6:00 a.m. on April 12, Brent crude oil was trading at $89.74 per barrel, down $0.74 from the previous session. WTI crude oil was trading at $85.55 per barrel, down $0.86.
Oil prices fell as the US Federal Reserve (Fed) is expected to not lower interest rates in June but will have to wait until September to start adjusting.
Keeping interest rates high for longer could stifle economic growth and reduce oil demand, causing oil prices to weaken.
Oil prices fell today. (Photo: Business Today).
Additionally, oil prices fell after US government data showed crude and fuel inventories rose more than expected due to weak demand and falling oil exports.
The US Energy Information Administration (EIA) said that in the week ending April 5, the country's crude oil inventories increased by 5.8 million barrels, more than double the expected increase of about 2.4 million barrels by analysts.
Also according to the EIA, US gasoline inventories in the week ending April 5 increased by 700,000 barrels and distillate inventories increased by 1.7 million barrels.
Domestic gasoline prices
From 3:00 p.m. on April 11, the price of E5 RON92 gasoline decreased by 68 VND, not higher than 23,848 VND/liter, RON95 gasoline increased by 20 VND, not higher than 24,821 VND/liter.
The prices of various types of oil have changed as follows: Diesel oil increased by 622 VND/liter, not higher than 21,610 VND/liter; Kerosene increased by 579 VND/liter, not higher than 21,594 VND/liter and fuel oil price decreased by 288 VND/kg, not higher than 17,008 VND/kg.
During this operating period, the operating agency decided not to set aside funds and not to spend the price stabilization fund for all petroleum products.
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