Gasoline price today November 24: World oil price increased sharply, week increased 6%

World oil prices

At 6:00 AM on November 24th, Brent crude oil was priced at $75.28 per barrel, up 1.27%, or $0.94 per barrel. WTI crude oil was priced at $71.18 per barrel, up 1.63%, or $1.14 per barrel.

At the close of trading yesterday, oil prices rose by about 1%, reaching their highest level in two weeks.

Both benchmark oil prices rose by about 6% this week, the largest weekly increase since November 7th.

Oil prices rose amid Moscow's intensified offensive in Ukraine after Britain and the United States authorized Kyiv to use its missiles to strike deeper into Russian territory.

"The escalation between Russia and Ukraine has heightened geopolitical tensions far beyond what was seen during the year-long conflict between Israel and Iranian-backed militants," said Ole Hansen, an analyst at Saxo Bank.

Meanwhile, PVM analyst John Evans commented that what the market fears is the destruction of any oil and gas facilities and refineries, as this would not only cause long-term damage but also accelerate the cycle of conflict.

World oil prices continued to rise today. (Illustrative image: iStock).

In a recent move, the United States has imposed new sanctions on Russia's Gazprom bank. The Kremlin said the new US sanctions are an attempt by Washington to hinder Russian gas exports.

Regarding demand, China, the world's largest oil importer, announced policy measures this week to boost trade, including support for energy product imports, amid concerns that the US will impose high tariffs on imports from China.

According to analysts, traders, and shipping data, China's crude oil imports are expected to recover in November.

Domestic fuel prices

In the price adjustment on November 21st, the price of E5 gasoline decreased by 109 VND/liter, not exceeding 19,343 VND/liter. The price of RON95 gasoline decreased by 79 VND/liter, not exceeding 20,528 VND/liter.

Diesel fuel prices decreased by 64 VND/liter, to 18,509 VND/liter. Kerosene prices decreased by 67 VND/liter, to 18,921 VND/liter. Mazut prices, however, increased by 5 VND/kg, not exceeding 16,014 VND/kg.

In this price adjustment period, the Ministry of Industry and Trade and the Ministry of Finance continue to neither allocate funds nor utilize the fuel price stabilization fund for these products.

Thus, from the beginning of 2024 until now, domestic gasoline prices have undergone 46 adjustments, including 23 decreases, 18 increases, and 6 periods of mixed increases and decreases.

PHAM DUY

Source: https://vtcnews.vn/gia-xang-dau-hom-nay-24-11-gia-dau-the-gioi-tang-manh-tuan-bat-tang-6-ar909261.html