Gasoline price today October 20, 2024: "Turn around" and drop sharply

Gasoline price today October 20, 2024

Recorded on Oilprice at 5:00 a.m. on October 20, 2024 (Vietnam time), WTI oil price was at 69.34 USD/barrel, down 2.05% (equivalent to a decrease of 1.45 USD/barrel).

WTI oil price on the world market in the early morning of October 20, 2024 (Vietnam time)

Similarly, Brent oil price was at 73.17 USD/barrel, down 1.87% (equivalent to a decrease of 1.39 USD/barrel).

Brent oil price on the world market early morning October 20, 2024 (Vietnam time)

Brent crude fell more than 7% and WTI crude fell more than 8% this week, marking the steepest weekly declines for each since the week ending September 2. Pressure on oil prices this week was the reduction in global oil demand forecasts for 2024 and 2025 by both the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA).

Oil prices fell as China's third-quarter growth remained at its slowest pace since early 2023, analysts said.

Regarding the conflict situation in the Middle East, investors are still closely watching Israel's moves towards Iran. Concerns about unexpected effects from geopolitical tensions in the Middle East have temporarily subsided when Israel announced that it has no plans to attack Iranian oil production facilities.

Domestic retail gasoline prices on October 20, 2024 will be applied according to the adjustment session from 3:00 p.m. on October 17 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	19,730	-116
RON 95 gasoline	20,962	-99
Diesel	18,321	-179
Oil	18,627	-163
Fuel oil	16,090	+179

Specifically, the price of E5 RON 92 gasoline decreased by VND116/liter, down to VND19,730/liter; RON 95 gasoline decreased by VND99/liter, down to VND20,962/liter.

Diesel 0.05S price: Decreased by 179 VND/liter, down to 18,321 VND/liter; Kerosene decreased by 163 VND/liter, down to 18,627 VND/liter; Madut 180CST 3.5S increased by 179 VND/kg, at 16,090 VND/kg.

Gasoline price today October 20, 2024. Illustration photo

In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

Thus, from the beginning of 2024 to now, domestic gasoline prices have undergone 41 adjustment sessions, including 20 decrease sessions, 17 increase sessions and 5 opposite sessions.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-20102024-quay-xe-giam-sau-353486.html