World oil prices
At 6:00 a.m. on February 24, Brent crude oil was trading at $81.62 per barrel, down $2.05 from early this morning. WTI crude oil was trading at $76.49 per barrel, down $2.12 from early this morning.
Oil prices fell due to increased selling pressure in the market after a series of "hawkish" speeches from officials of the US Federal Reserve (Fed).
Oil prices fell today. (Photo: Business Port Nigeria).
Fed Governor Christopher Waller said on February 22 that policymakers should hold off on cutting interest rates for at least a few more months to consider whether recent increases in inflation are a sign of impeding progress toward price stability.
Meanwhile, Fed Governor Lisa Cook said she wants to see more progress on inflation before starting to cut interest rates.
Domestic gasoline prices
From 3:00 p.m. on February 22, the price of E5 gasoline decreased by 360 VND/liter, selling price is 22,470 VND/liter. The price of RON95 gasoline decreased by 320 VND/liter, selling price is 23,590 VND/liter.
Similarly, diesel 0.05S decreased by 451 VND/liter, not higher than 20,910 VND/liter; kerosene decreased by 300 VND/liter, not higher than 20,921 VND/liter; mazut 180CST 3.5S increased by 23 VND/kg, not higher than 15,929 VND/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance decided to set aside the Petroleum Price Stabilization Fund for fuel oil at 300 VND/kg, and not set aside the BOG Fund for E5RON92 gasoline, RON95 gasoline, diesel oil and kerosene.
This is the third time domestic gasoline prices have decreased and the first time since Tet. Since the beginning of the year, domestic gasoline prices have undergone 7 adjustments, including 2 decreases and 5 increases.
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