Gasoline price today November 14: Slight recovery

World oil prices

At 6:00 a.m. on November 14, WTI oil price increased by 0.33 USD, equivalent to 0.48%, to 68.1 USD/barrel. Brent oil price increased by 0.39 USD, equivalent to 0.54%, to 72.28 USD/barrel.

Oil prices rebounded on short covering a day after prices fell to near two-week lows on OPEC’s forecast for lower demand, but crude’s gains were limited as the dollar hit a seven-month high.

U.S. and global oil production are both expected to rise to record highs this year slightly more than previously forecast, the U.S. Energy Information Administration said Wednesday.

US oil production is now expected to average 13.23 million barrels per day this year, and global production is expected to reach 102.6 million barrels per day.

Gasoline prices recover. (Photo: Minh Duc).

The International Energy Agency, whose demand growth forecasts are much lower than OPEC's, is expected to release updated estimates on Thursday.

If the conflict continues, Israel will eventually attack Iranian oil assets, according to Clay Seigle, an independent political risk strategist. This may be limited to Iranian refineries, but Israeli planners could be more ambitious and target production and export facilities.

President-elect Donald Trump’s expected pick for secretary of state, Senator Marco Rubio, could boost oil prices, according to Ashley Kelty of Panmure Liberum. Rubio’s tough stance on Iran could see sanctions implemented, removing 1.3 million barrels per day of Iranian oil from global supplies, Kelty said.

Domestic gasoline prices

In the operating period on November 7, the price of E5 RON92 gasoline increased by 336 VND/liter, not higher than 19,744 VND/liter; the price of RON95 gasoline increased by 351 VND/liter, not higher than 20,854 VND/liter.

Meanwhile, the prices of many types of oil also increased: diesel price increased by 769 VND/liter, up to 18,917 VND/liter; kerosene price increased by 461 VND/liter, up to 19,294 VND/liter. In contrast, fuel oil price decreased by 67 VND/kg, not higher than 16,394 VND/kg.

In this period, the regulatory agency continues not to set aside or use the gasoline price stabilization fund for any products.

Chau Anh

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