Gasoline price today July 16: World slightly decreased, domestic price maintained increasing momentum

Gasoline prices today, July 16, continued to decrease slightly on the world market when the US temporarily postponed imposing sanctions on Russia. Domestically, gasoline prices remained at the same level of increase.

World oil prices continue to adjust

In the early morning trading session on July 16, Brent oil price dropped to 68.96 USD/barrel and WTI oil price dropped to 66.68 USD/barrel. The main reason was the new statement of US President Donald Trump, extending Russia's 50-day extension on the Ukraine issue, helping to ease concerns about supply disruptions. However, analysts still warned that if sanctions are applied, the oil market will be strongly affected.

Concerns about a global economic slowdown also weighed on the outlook for fuel demand. China, a major consumer, is growing more slowly but still exceeding expectations thanks to stimulus policies. Meanwhile, OPEC forecasts oil demand will remain high in the third quarter, supporting the market balance.

Domestic gasoline prices maintain increase from previous adjustment period

As of today, the retail price of gasoline in Vietnam is still subject to the adjustment from the July 10th adjustment period. Specifically, E5RON92 gasoline is at VND19,659/liter, RON95-III is at VND20,090/liter. Diesel and kerosene increased to VND18,837/liter and VND18,371/liter, respectively. Fuel oil only slightly decreased to VND15,563/kg.

Fuel type	Maximum price (VND/liter or VND/kg)
E5 RON92 gasoline	19,659 VND/liter
Gasoline RON95-III	20,090 VND/liter
Diesel 0.05S	18,837 VND/liter
Oil	18,371 VND/liter
Mazut oil 180CST 3.5S	15,563 VND/kg

During this period, the Ministry of Industry and Trade and the Ministry of Finance did not set aside or spend the Petroleum Price Stabilization Fund. Global price fluctuations due to geopolitical tensions and US tariff policies continue to be the main factors affecting the upcoming adjustment period.

Volatile market

Observers predict that the global oil market will face many uncertainties in the coming time, as US policies, developments in Ukraine, and supply and demand in China and India can all strongly affect prices. In Vietnam, domestic prices are closely following international fluctuations, but the level of adjustment in the future depends on the actual developments of the world market.

Source: https://baodanang.vn/gasoline-price-today-16-7-the-gioi-giam-nhe-trong-nuoc-giu-da-tang-3296970.html