Gasoline prices today August 24: Strong increase across the board

World oil prices today

World oil prices increased sharply in today's trading session, August 24 (Vietnam time). WTI crude oil was at 74.83 USD/barrel, up 1.82 USD/barrel, equivalent to an increase of 2.49%. WTI crude oil closed the previous trading session at 73.01 USD/barrel, opening today's session at 72.96 USD/barrel.

Brent crude oil was at $79.02 a barrel, up $1.80 a barrel, or 2.33 percent. Brent crude oil closed the previous session at $77.22 a barrel and opened today at $77.15 a barrel.

The US central bank is on track to cut interest rates in September, analysts say. The US dollar in particular has been sold off on the news of the rate cut. Meanwhile, the US dollar has recently supported oil prices by making them cheaper for buyers using other currencies.

Oil prices rose after Fed Chairman Jerome Powell spoke at the annual economic symposium in Jackson Hole, Wyoming. Powell stressed that “upside risks to inflation have diminished,” “downside risks to employment have increased,” and “it is time for policy to adjust.” The path forward is clear, and the timing and pace of rate cuts will depend on incoming data, the changing outlook, and the balance of risks, Powell said.

After Mr. Powell’s speech, the USD index fell to around 101.45, pushing oil prices up. In addition, crude oil inventories in the US also fell sharply and are forecast to continue to decrease in the third quarter.

Domestic gasoline prices today

On August 24, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities currently applying) are as follows:

Domestic gasoline prices on August 24 according to the price list announced by Petrolimex.

The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of August 22. Accordingly, RON 95-III gasoline decreased by VND540/liter; E5 and RON 92 gasoline decreased by VND460/liter; diesel oil decreased by VND460/liter; kerosene decreased by VND430/liter; and fuel oil decreased by VND490/kg.

Gasoline discount today

Discount prices of petroleum products today, August 24, at some domestic petroleum dealers are as follows:

Pvoil applies discount rates on August 24: Oil discount of VND1,750/liter; RON 95-III gasoline: VND1,550/liter; E5 gasoline: VND1,350/liter. This discount rate is applied at Pvoil Dinh Vu warehouse, Petec An Hai, Cai Lan warehouse.

Tu Luc Petroleum discounts on August 24 as follows: Oil discount: 1,700 VND/liter; RON 95 - III gasoline: 1,500 VND/liter; E5 gasoline: 1,300 VND/liter.

MIPEC gasoline discount on August 24: 95-III gasoline: 1,200 VND/liter; E5 gasoline: 1,000 VND/liter; oil: 1,850 VND/liter.

Forecast of domestic gasoline prices next period

According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. It is forecasted that in the next price adjustment period, petroleum prices will likely continue to decrease.

Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 17 times and decreased 16 times. Oil prices have increased 16 times and decreased 17 times.

Source: https://laodong.vn/kinh-doanh/gia-xang-dau-hom-nay-248-dong-loat-tang-manh-1384077.ldo