Gasoline price today August 20: Slight decrease

Early morning of August 20, WTI oil price was at 62.63 USD/barrel, down 0.82 USD/barrel, while US Brent oil price was at 5.96 USD/barrel, down 0.66 USD/barrel.

World oil prices

World oil prices fell today as traders weighed the possibility that talks between Russia, Ukraine and the United States to end the conflict could lead to the lifting of sanctions on Russian crude, thereby increasing global supplies.

Reuters reported that after meeting at the White House with Ukrainian President Volodymyr Zelenskiy and European leaders, US President Donald Trump said he had spoken with Russian President Vladimir Putin. Trump revealed that he was arranging for Putin and Zelenskiy to meet directly, possibly leading to a three-way summit.

Commerzbank analysts said: “Yesterday’s meeting between Mr. Trump, Mr. Zelenskiy and a number of European leaders gave new impetus to the negotiation process, raising hopes of an end to the conflict in the near future. This is what caused oil prices to turn around and fall today.”

World oil prices today (Photo: PVOIL).

Mr. Suvro Sarkar - senior energy analyst at DBS Bank also said that Mr. Trump's softer attitude on secondary sanctions against countries importing Russian oil has helped reduce the risk of global supply disruption, somewhat easing geopolitical tensions.

Meanwhile, Chinese refiners bought 15 cargoes of Russian oil for October and November delivery, amid waning import demand from India for Russian oil, according to two experts and a trader.

President Zelenskiy described the conversation with Mr Trump as “very good”, saying the two sides discussed the possibility of the US providing security guarantees to Ukraine. Mr Trump confirmed that such a commitment would be made, but the specific level of support remained unclear.

Mr. Bart Melek - Director of Commodity Strategy at TD Securities commented: "If the negotiation results help to cool down tensions and eliminate the risk of imposing taxes or secondary sanctions, oil prices may gradually decrease to the target level of 58 USD/barrel on average in the fourth quarter of 2025 and the first quarter of 2026" .

Domestic gasoline prices

During the operating period on August 14, the price of E5 RON92 gasoline decreased by VND254/liter, not higher than VND19,354/liter. The price of RON95 gasoline decreased by VND190/liter, not higher than VND19,884/liter.

Prices of all types of oil also decreased simultaneously: Diesel oil decreased by 723 VND/liter, not higher than 18,077 VND/liter. Kerosene price decreased by 640 VND/liter, not higher than 18,020 VND/liter and fuel oil price decreased by 379 VND/kg, not higher than 15,268 VND/kg.

In this operating period, the management agency continues to not set aside or spend the gasoline price stabilization fund.

This is the second time the price of E10 gasoline has been adjusted since it was first sold in Ho Chi Minh City, Hanoi and Hai Phong on August 1. There was one increase and one decrease. When it was first sold, the price of E10 gasoline was VND19,600/liter in zone 1 and VND19,990/liter in zone 2. By the time of the adjustment on August 7, the price of E10 gasoline was VND19,830/liter in zone 1 and VND20,220/liter in zone 2.

Since the beginning of the year, domestic gasoline prices have gone through 32 adjustment sessions, of which 13 decreased, 14 increased and 5 were mixed.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-20-8-giam-nhe-5056575.html