On August 16, gasoline prices kept falling, Brent crude oil futures delivery price fell by 8 USD, equivalent to 1,32%, to 1,5 USD/barrel; while the price of US WTI oil fell by $84,89, or 1,52%, to $1,8 per barrel.
Putting pressure on the market right now is China's industrial output and retail sales data that have just been released, showing that in July, the country's economy slowed down. According to the Bureau of Statistics of China, industrial output in the country increased by only 7% year-on-year, slower than the 3,7% growth rate in June; less than expectations for a 4,4% gain in a Reuters poll of analysts. Similarly, retail sales - a measure of consumption - grew just 6%, down from a 4,4% gain in June and missing the 2,5% growth forecast. This is the slowest growth since late 3,1 in this country.
World petrol prices show signs of weakening
China is currently the world's largest oil importer, and the above data has extinguished investors' dreams of $ 90 per barrel. Earlier, realizing that the growth rate was slowing down, not as expected, the Central Bank of China slightly lowered interest rates for the second time in 2 months. Still, analysts say the cut is too small to make a meaningful difference.
In a more positive turn, refining output in China rose 17,4% in July from a year ago.
Domestically, on August 16.8, information from traders distributing, discounting retail gasoline, picking up goods at warehouses in the north kept the upward momentum with gasoline 1.050 VND/liter, oil skyrocketing to 2.000 VND/liter. In the south, the discount at Nha Be warehouse for oil is 2.200 VND/liter. However, the price of finished petroleum products referenced to the Singapore market until the end of August 15.8 still increased compared to the price at the time of recent administration (August 11.8). Accordingly, the price of imported gasoline is estimated to be 800 VND/liter higher than the domestic price, while the price of imported oil has also increased slightly, but the difference is lower.
On August 16.8, the retail prices of petroleum products on the domestic market were as follows: RON95-III gasoline 23.993 VND/liter, E5 RON92 gasoline 22.822 VND/liter, diesel oil 22.425 VND/liter, kerosene 21.889 VND/liter. liters, fuel oil 17.668 VND/kg.
According to Youth
