Gasoline price today July 14: Uphill

World oil prices maintained a slight increase in the opening session of the week, however, domestic gasoline prices this week may decrease slightly.

On the morning of July 14, at 7:45 a.m. (Vietnam time), gasoline prices increased slightly by about 0.2%, with US WTI crude oil trading at $68.6/barrel; global benchmark Brent crude oil also rose to $70.5/barrel. Last week, both benchmarks increased by 2.2 - 3%.

According to analysts, oil prices are being supported by information about increased demand in the summer, but production is slightly reduced due to the limited expansion of exploitation activities by fuel producers in the US. On Reuters, analysts all said that demand continues to increase and shows no signs of weakening; oil prices are showing significant resilience, despite the plan to increase supply by the Organization of the Petroleum Exporting Countries and its allies (OPEC +).

Domestic gasoline prices are commonly around 20,000 VND/liter. PHOTO: D.NT

OPEC+ is planning a sharp increase in production from September, as the group continues to ease its voluntary cuts. OPEC+ previously agreed to increase production by 548,000 barrels per day from August, with the United Arab Emirates (UAE) taking a higher new quota. Another factor supporting oil prices is the news that Saudi Arabia is expected to export around 51 million barrels of oil to China in August - the largest volume in more than two years.

In another development, the European Commission has proposed a flexible price ceiling for Russian crude oil, 15% lower than the average market price over the past three months. This proposal was made after strong fluctuations in world oil prices made the current ceiling of $60/barrel no longer suitable. The new price ceiling is expected to be adjusted every three months.

Domestically, forecasts show that gasoline prices may decrease slightly this week; retail discounts for gasoline this morning (July 14) are generally over VND1,000/liter, for pick-up at the warehouse.

On the morning of July 14, the retail prices of petroleum products according to Petrolimex 's price list in market area 1 (near ports, warehouses, refineries...) are as follows: RON 95-V gasoline 20,450 VND/liter; RON 95-III gasoline 20,090 VND/liter; E5 RN92 gasoline 19,650 VND/liter; 0.001SV diesel 19,050 VND/liter; kerosene 18,370 VND/liter./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1472025-leo-doc-185250714083647886.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-14-7-leo-doc-a198704.html