Gasoline price today 7/24: World oil price decreased for the fourth consecutive session

World oil prices continued to plummet for the fourth consecutive session. Domestically, gasoline prices today remained low and are likely to continue to fall.

World oil prices continue to decline

Early morning on July 24 (Vietnam time), Brent crude oil price was trading at 68.19 USD/barrel, down 0.42 USD, while WTI crude oil price decreased to 64.91 USD/barrel, down 0.41 USD. This is the fourth consecutive decline in the oil market, mainly due to concerns about trade tensions between the US and the EU and the upcoming release of US oil inventory data.

US President Donald Trump said he had reached a trade agreement with Japan, but analysts said the news was not enough to boost oil prices, as negotiations with the EU and China have yet to make clear progress.

The European Commission is expected to present to member states a proposal to impose retaliatory tariffs of up to 93 billion euros on US goods, if an agreement is not reached by the August 1 deadline.

US oil inventories fall more than expected

According to the US Energy Information Administration (EIA), the country's crude oil inventories fell by 3.2 million barrels last week - much higher than the expected decrease of 1.6 million barrels. At the same time, the strong increase in oil exports and the decrease in net imports helped improve the US energy trade balance, bringing expectations of supporting oil prices in the short term.

However, investors are still cautiously monitoring the US Secretary of Energy's move on the possibility of imposing sanctions on Russian oil - a factor that could affect global supply in the coming time.

Domestic gasoline prices await new adjustments

In the Vietnamese market, the price of gasoline on the morning of July 24 remained unchanged according to the adjustment period from July 17. The price of E5 RON 92 gasoline is currently at VND19,481/liter; RON 95 gasoline is VND19,925/liter. Diesel is sold at VND18,799/liter, while kerosene and fuel oil are at VND18,429/liter and VND15,478/kg, respectively.

Fuel type	Maximum price
E5 RON92 gasoline	19,481 VND/liter
Gasoline RON95-III	19,925 VND/liter
Diesel 0.05S	18,799 VND/liter
Oil	18,429 VND/liter
Mazut oil 180CST 3.5S	15,478 VND/kg

With the decline in world oil prices over the past week, many experts predict that domestic gasoline prices will continue to be adjusted downward in the update this afternoon (July 24).

Source: https://baodanang.vn/gia-xang-dau-hom-nay-24-7-dau-the-gioi-giam-phien-thu-tu-lien-tiep-3297721.html