Gasoline prices today May 16: Domestic and international prices are mixed

On the morning of May 16, gasoline prices continued to decline, Brent crude oil decreased by 1.47 USD, equivalent to 2.22%, to 64.62 USD/barrel; US WTI crude oil decreased by 1.43 USD, equivalent to 2.26%, to 61.72 USD/barrel.

US President Donald Trump revealed yesterday (May 15) that the US and Iran are getting closer to reaching a nuclear deal with Iran, and that Iran has "relatively" agreed to the terms. Information shows that Iran may be willing to agree to a deal with the US in exchange for lifting economic sanctions. If everything goes well, it is expected that oil supply to the market in the near future will increase sharply.

In another development, the US has just issued sanctions targeting about 20 companies in a network that the US believes has long transported Iranian oil to China. These sanctions were issued after a round of negotiations between the US and Iran related to Iran's nuclear program.

Domestic gasoline prices increased simultaneously from the afternoon of May 15

The International Energy Agency (IEA) has just raised its forecast for oil demand growth in 2025 to 740,000 barrels per day (bpd), up 20,000 bpd from its previous report, citing higher economic growth forecasts and lower oil prices supporting consumption. Economic headwinds and record electric vehicle sales are expected to reduce oil demand from 1 million bpd in the first quarter to 650,000 bpd by the end of the year, the IEA said.

Domestically, yesterday afternoon (May 15), the Ministry of Industry and Trade - Ministry of Finance decided to increase the prices of all petroleum products. Specifically, compared to the previous week's adjustment session, the price of RON 95 gasoline (a popular type on the market) was adjusted up by VND 420/liter, the retail price increased to VND 19,590/liter. Similarly, the price of E5 RON 92 gasoline increased by VND 410/liter, the selling price increased to VND 19,180/liter. Meanwhile, the price of diesel increased by VND 420/liter, the retail price increased to VND 17,220/liter.

In this management session, the Ministry of Industry and Trade - Ministry of Finance still did not use the Petroleum Price Stabilization Fund./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1652025-trong-nuoc-va-the-gioi-trai-chieu-185250516014942592.htm

Source: https://baolongan.vn/gasoline-price-today-16-5-trong-nuoc-va-the-gioi-trai-chieu-a195367.html