Gasoline prices today February 13, 2024 continue to decline

Domestic gasoline prices today February 13, 2024

In the domestic market, the selling price of gasoline and oil today, February 13, is applied according to the price of the operating session on the afternoon of February 8.

Accordingly, the retail price of gasoline and oil was adjusted down by the Ministry of Finance - Ministry of Industry and Trade. In particular, the price of RON 95 gasoline decreased sharply, to 23,000 VND/liter.

Specifically, the price of E5 gasoline decreased to 22,120 VND/liter. The price of RON 95 gasoline decreased to 23,260 VND/liter.

Diesel price dropped to 20,700 VND/liter. The retail price of kerosene dropped to 20,580 VND/liter.

Retail price of gasoline today:

Item	Price from February 8 (unit: VND/liter)	Compared to previous period
Gasoline RON 95-III	23,260	- 900
Gasoline E5 RON 92-II	22,120	- 790
Diesel	20,700	- 290
Oil	20,580	- 340

World oil prices today February 13, 2024

In the world market, gasoline prices today, February 13, continued to decline following the downward trend from the previous session.

On February 12, international oil prices reversed and decreased after rising sharply last week.

According to data from Oilprice, at 7:23 p.m. on February 12 (Vietnam time), Brent crude oil was trading at $81.24 per barrel, down $0.95, or 1.16%, from the previous session. WTI crude oil was at $75.95 per barrel, down $0.89, or 1.16%, from the previous session.

Petrol prices continue to decline (Photo: Telegraph India)

Analysts say oil prices have cooled as supply concerns ease.

Oil prices fell after Israel said it had ended its military action in southern Gaza, easing concerns about Middle East supplies.

Along with that, information about US oil production also contributed to easing concerns about supply.

US energy companies recently increased the number of oil and natural gas rigs operating to the highest level since mid-December 2023. US oil production rose to a record high of 13.3 million barrels per day last week.

Meanwhile, the market remains concerned about oil demand. Trading activity in Asia is expected to be thin, as most countries in the region are closed for the Lunar New Year.

A Federal Reserve official recently said he does not support cutting interest rates because the agency still needs to control inflation. Rising interest rates often slow economic growth, limiting oil demand.

Last week, world oil prices increased by more than 6%, after falling by more than 7% the previous week, recording the strongest weekly increase since the beginning of the year.

Oil prices rose for five consecutive sessions due to geopolitical instability in the Middle East, raising concerns that global supply will be limited.

Today's gasoline and oil prices on February 12, 2024 decreased slightly after a sharp increase . Today's gasoline and oil prices on February 12, 2024 on the international market reversed and decreased slightly after a sharp increase last week. Last week, world oil prices increased by more than 6%, after a sharp decrease the previous week.

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