Gasoline price today May 15: Gasoline price is about to increase?

On the morning of May 15, oil prices reversed course after rising to a two-week high . Accordingly, Brent crude oil prices fell 54 cents, or 0.81%, to $66.09 per barrel; WTI crude oil fell 52 cents, or 0.82%, to $63.15 per barrel.

A sharp increase in US crude oil inventories has dragged down oil prices. On May 14, data from the US Energy Information Administration (EIA) showed that US crude oil inventories last week increased by 3.5 million barrels to 441.8 million barrels, contrary to analysts' forecasts for a decrease of 1.1 million barrels. According to EIA, US net crude oil imports increased to 422,000 barrels/day.

Previously, data from the American Petroleum Institute (API) also showed that US crude oil inventories unexpectedly increased sharply by 4.3 million barrels.

According to analysts, not only has US crude oil inventories decreased, but the increase in production from the Organization of the Petroleum Exporting Countries and its allies (OPEC+) has also raised concerns about oversupply, causing oil prices to fall. On May 14, OPEC+ cut its forecast for oil supply growth from the US (down 100,000 barrels/day) and other producers outside OPEC+ this year. Specifically, OPEC+ said that supply from countries outside this group will increase by about 800,000 barrels/day, down from last month's forecast of 900,000 barrels/day.

Domestic gasoline prices may be adjusted up slightly from this afternoon (May 15).

When demand remains unchanged but supply increases, at some point supply will overwhelm demand and push oil prices even lower, an analyst told Reuters.

Domestically, before the price increase last week, gasoline prices are forecast to increase following world prices. Updated finished product prices as of the morning of May 15, domestic gasoline prices in this afternoon's adjustment period may increase by about 280 - 420 VND/liter/kg.

If as predicted, the downward trend of domestic gasoline prices will be broken and will turn upward from this afternoon. Since the beginning of the year, domestic gasoline prices have had 19 adjustment sessions with 9 sessions of decrease, 7 sessions of increase and 3 sessions of opposite direction./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1552025-xang-chuan-bi-tang-185250515084229862.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-15-5-xang-chuan-bi-tang-a195298.html