World oil prices
At 6:00 a.m. on March 19, Brent crude oil was trading at $86.89 per barrel, up $1.55 from the previous session. WTI crude oil was trading at $82.72 per barrel, up $1.68.
Over the weekend, Russia reported that Ukraine launched 35 drones at targets across the country, disrupting power supplies in border areas.
Ukraine's military operation targeting Russia's energy infrastructure has caused serious damage at several oil refineries.
Gasoline prices went up today. (Illustration: Cong Hieu).
On the demand side, in China, the world’s largest oil importer, factory output and retail sales beat expectations in January-February, marking a solid start to 2024, despite headwinds from the property sector.
Analysts at energy consultancy Gelber and Associates said oil prices were supported by crude demand from China.
Domestic gasoline prices
From 3:00 p.m. on March 14, the price of E5 RON92 gasoline decreased by VND22/liter, to VND22,290/liter. The price of RON95 gasoline decreased by VND14/liter, not higher than VND23,549/liter.
Oil prices increase or decrease depending on the type. Of which, diesel oil price increases by 78 VND/liter, not higher than 20,549 VND/liter; kerosene increases by 97 VND/liter, not higher than 20,706 VND/liter; fuel oil increases by 299 VND/kg, not higher than 16,432 VND/kg.
In this management period, in response to the developments in world oil prices, the Ministry of Industry and Trade - Ministry of Finance decided to set up a price stabilization fund for fuel oil at 300 VND/kg.
At the same time, no price stabilization fund will be set aside for E5 RON92 gasoline, RON95 gasoline, diesel oil and kerosene.
The management agency also does not use the gasoline price stabilization fund for goods.
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