Gasoline prices today (April 16): Domestic gasoline prices may continue to decline - Lang Son Newspaper and Radio and Television

World oil prices

According to Reuters, at the beginning of the trading session on April 16, Brent oil prices continued to decrease slightly, while WTI oil prices increased slightly.

At the end of the trading session on April 15, oil prices decreased slightly. Brent crude oil price decreased by 21 cents, equivalent to 0.3%, to 64.67 USD/barrel; WTI crude oil price decreased by 20 cents, equivalent to 0.3%, to 61.33 USD/barrel.

Oil prices fluctuated slightly in the first two trading sessions of the week. Illustration photo: Fox Business

According to Reuters, the unstable US trade policy has created instability for the global oil market and forced OPEC to lower its outlook for world oil demand this year.

The International Energy Agency also forecast global oil demand in 2025 to grow at its slowest pace in five years due to concerns about economic growth from US President Donald Trump's trade tariffs.

The tariff uncertainty has prompted several banks, including UBS, BNP Paribas and HSBC, to cut their crude price forecasts.

If the trade war continues to escalate, the downside risk scenario could see Brent crude trading at $40-$60 a barrel in the coming months, said UBS analyst Giovanni Staunovo.

Trump's tariff concerns, coupled with increased OPEC+ supply, have sent oil prices down about 13% this month.

On April 14, oil prices increased slightly after Mr. Trump announced that he was considering revising the 25% tax rate applied to imported cars from Mexico and other countries.

Oil prices have been moving in response to the US government's conflicting tariff policies on cars and auto parts, according to analysts at energy consultancy Gelber and Associates.

In the US, bankers warn that consumer spending will face huge risks if the turmoil caused by Mr Trump's trade policies continues.

US import prices unexpectedly fell in March as energy costs fell, the latest sign that inflation is easing before Mr Trump’s sweeping tariffs take effect.

However, some analysts are concerned that the White House boss's tariff policy could increase inflation, making it difficult for the US Federal Reserve (Fed) to cut interest rates.

US gasoline and oil inventory data will impact oil prices in the trading session on April 16. Illustration photo: Thoughtco

The Fed and other central banks use higher interest rates to curb rising inflation, which increases consumer costs and can reduce economic growth and energy demand.

In Europe, the European Central Bank said some banks had limited access to credit in the first quarter of 2025 and expected further tightening of credit standards due to growing concerns about the economic outlook due to Mr Trump's tariffs.

Regarding US gasoline and oil inventories, according to the American Petroleum Institute, in the week ending April 11, US oil inventories increased by 2.4 million barrels; gasoline inventories decreased by 3 million barrels and distillate inventories decreased by 3.2 million barrels.

Domestic gasoline prices

Domestic retail prices of gasoline on April 16 are as follows:

E5 RON 92 gasoline is not more than 18,882 VND/liter. RON 95-III gasoline is not more than 19,207 VND/liter. Diesel oil is not more than 17,243 VND/liter. Kerosene is not more than 17,413 VND/liter. Fuel oil is not more than 15,902 VND/kg.

The above domestic retail prices of gasoline and oil will be adjusted by the Ministry of Finance and the Ministry of Industry and Trade in the price management session on the afternoon of April 17. Due to the decrease in world gasoline and oil prices last week, domestic gasoline and oil prices may continue to decrease slightly. However, prices may turn to increase if world gasoline and oil prices increase in the first trading sessions of this week.

In the most recent price adjustment, the price of E5 RON 92 gasoline decreased by VND 1,491/liter, RON 95-III gasoline decreased by VND 1,712/liter, diesel decreased by VND 1,235/liter, kerosene decreased by VND 1,322/liter, and fuel oil decreased by VND 1,124/kg.

Source: https://baolangson.vn/gasoline-price-hom-nay-16-4-gasoline-in-nuoc-co-the-tiep-da-giam-5044180.html