Gasoline price today (May 19): Red floor

World oil prices

According to Oilprice, at 5:15 a.m. on May 19 (Vietnam time), Brent and WTI oil prices both decreased slightly by more than 22 cents.

Oil prices rose for a second straight week last week, with Brent rising more than 2% and WTI climbing 2.4%. Both benchmarks ended the week above $60 a barrel.

Oil prices suddenly plummeted at the beginning of trading on May 19. Illustration photo: Reuters

Oil prices were supported by a 90-day truce between the United States and China to delay higher tariffs. Washington and Beijing will reduce 115 percent of tariffs while maintaining an additional 10 percent tariff, according to a White House statement. Other U.S. measures will remain in place.

WTI and Brent could see further resistance near $65 and $69, respectively, according to Ole Hansen, head of commodity strategy at Saxo Bank. However, the key question is whether the news of the deal marks the peak of optimism.

Oil prices were also boosted by a rising dollar, reports that US inflation had cooled and Russia and Ukraine failed to reach a ceasefire agreement in their first direct talks in more than three years.

Factors limiting the upward momentum of oil prices include the unexpected increase in US crude oil inventories (up 3.5 million barrels), expectations of a nuclear deal between the US and Iran that could ease sanctions on Tehran and add more Iranian oil (about 400,000 barrels/day) to the market.

This week, traders will pay attention to weekly jobless claims, the S&P Global flash purchasing managers index (PMI), April existing home sales and US new home sales.

Will oil prices record a hat-trick of weekly gains? Illustration: Vanguardngr

Markets will also be watching comments from members of the US Federal Reserve (Fed), especially a speech by Fed Chairman Jerome Powell later in the week, for a clearer view of the Fed's monetary policy direction. The Fed has kept interest rates at a high level of 4.25% to 4.5% since December last year, despite repeated calls from US President Donald Trump for the agency to cut interest rates.

Data released last week showed that inflation in the US has cooled. The consumer price index (PCI) rose just 2.3% in April compared to the same month last year, the smallest annual increase in four years. This is quite positive data for the US economy . While import prices in the US rose 0.1% in April after falling 0.4% in March, consumer sentiment remained gloomy due to concerns about rising tariffs.

Domestic gasoline prices

Domestic retail prices of gasoline on May 19 are as follows:

E5 RON 92 gasoline is not more than 19,180 VND/liter.

RON 95-III gasoline is not more than 19,594 VND/liter.

Diesel oil not more than 17,228 VND/liter.

Kerosene not more than 17,226 VND/liter.

Fuel oil not exceeding 16,160 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 May 22. Due to the increase in world gasoline and oil prices last week, it is likely that domestic gasoline and oil prices will continue to increase. However, prices may reverse if world gasoline and oil prices drop dramatically in the first trading sessions of the week.

In the most recent adjustment, the price of E5 RON 92 gasoline increased by 403 VND/liter, RON 95-III gasoline increased by 415 VND/liter, diesel increased by 419 VND/liter, kerosene increased by 285 VND/liter and fuel oil increased by 627 VND/kg.

MAI HUONG

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Source: https://baodaknong.vn/gia-xang-dau-hom-nay-19-5-do-san-252942.html