Gasoline price today (May 20): Fluctuating

World oil prices

According to Oilprice, at 5:30 a.m. on May 20 (Vietnam time), Brent oil price was "anchored" at 65.54 USD/barrel, WTI oil price decreased by 2 cents.

Oil prices ended the first trading session of the week slightly higher as signs of a breakdown in negotiations between the US and Iran over its nuclear program offset Moody's downgrade of the US sovereign credit rating.

Oil prices edged up in the first trading session of the week. Photo illustration: Ripples Nigeria

Brent crude rose 13 cents to $65.54 a barrel. WTI crude rose 20 cents to $62.69 a barrel.

On May 19, Iranian state media quoted Deputy Foreign Minister Majid Takht-Ravanchi as saying that nuclear talks would go nowhere if Washington insisted on Tehran reducing its uranium enrichment to zero.

Earlier, on May 18, US special envoy Steve Witkoff reiterated Washington's stance that any new agreement between the US and Iran must include a deal to curb uranium enrichment. Tehran still insists that its nuclear energy program is purely for peaceful purposes.

According to StoneX analyst Alex Hodes, the Iranian deputy foreign minister's comments have dampened expectations of a nuclear deal between Iran and the US, which would pave the way for easing US sanctions and allow Iran to increase its oil exports by 300,000-400,000 barrels per day.

Limiting oil's gains during the session was Moody's downgrade of the US sovereign credit rating from the highest level of Aaa to Aa1, raising questions about the economic health of the world's largest oil consumer. Oil prices were also affected by information about slowing growth in industrial output and retail sales in China, the world's top oil importer.

Weaker-than-expected Chinese data did not support oil prices, although the decline was modest, UBS analyst Giovanni Staunovo said.

Pressure on oil prices also came from comments by US Treasury Secretary Scott Bessent that President Donald Trump would impose tariffs announced last month on trading partners that do not negotiate in "good faith".

Many factors are limiting the rise in oil prices. Illustration photo: Reuters

Oil prices are likely to remain volatile in the near term as investors await updates on tariffs, U.S.-Iran talks and talks to end the conflict in Ukraine, said John Kilduff, partner at Again Capital in New York.

After a phone call with his US counterpart on May 19, Russian President Vladimir Putin said Moscow was ready to discuss with Ukraine a memorandum of a future peace agreement, and that efforts to end the conflict were on the right track.

An end to the conflict in Ukraine would pave the way for the lifting of some Western sanctions on Moscow's oil sales, potentially boosting global supplies and putting further pressure on oil prices, said Andrew Lipow, president of Lipow Oil Associates.

Domestic gasoline prices

Domestic retail prices of gasoline on May 20 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-20-5-bien-dong-253048.html