Gasoline price today April 22: Deep decline

According to an update from Oilprice at 7:00 a.m. (Vietnam time), WTI oil prices increased slightly by 0.51 USD/barrel, equivalent to 0.81%, to 63.59 USD/barrel. In contrast, Brent oil prices turned around and fell sharply by 1.70 USD/barrel, equivalent to 2.50%, to 66.26 USD/barrel.

Both oil prices fell last week. Brent fell 3%, while WTI lost 2.6%, marking its second consecutive weekly decline.

The main reason is that geopolitical risks have somewhat cooled down. Iran's missile and drone attacks on Israel did not cause much damage, and Israel did not retaliate strongly, helping the market temporarily calm down against the risk of widespread conflict in the Middle East.

In addition, reports showing that US oil inventories continued to rise more than expected, while economic data from China showed that the recovery was not sustainable. These factors put pressure on oil prices for most of the past week.

Investors are closely watching upcoming economic data from the US, especially the first quarter GDP and the core PCE consumer price index – the inflation measure that the US Federal Reserve (Fed) prioritizes. The results of these indicators can affect the expectation of interest rate adjustments, thereby directly affecting the energy market. Current predictions lean towards the possibility that the Fed will maintain stable interest rates at least until September.

Oil prices had previously surged by more than $3 a barrel following reports of explosions in Iran. However, the market quickly cooled down when the Iranian government reassured that there would be no further retaliation, helping oil prices cool down again.

Domestic gasoline prices on April 22, 2025 will still be applied according to the adjustment from 3:00 p.m. on April 17 by the Ministry of Industry and Trade - Ministry of Finance. Accordingly, prices of key commodities will continue to decrease slightly.

Specifically, the price of E5 RON 92 gasoline is currently at VND18,498/liter, down VND384 compared to the previous adjustment. RON 95 gasoline also decreased by VND351, to VND18,856/liter. Diesel oil decreased by VND206, to VND17,037/liter, while kerosene decreased by VND229, to VND17,184/liter.

Fuel oil had the opposite trend, increasing by 58 VND/kg, currently at 15,960 VND/kg.

During this management period, the joint ministries continue not to make any provision or use of the Price Stabilization Fund for all of the above mentioned petroleum products.

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Source: https://baonghean.vn/gia-xang-dau-hom-nay-22-4-quay-dau-giam-sau-10295662.html