World oil prices
At 6:30 a.m. on May 25, WTI oil price was trading at 74.42 USD/barrel, up 0.97 USD/barrel, while Brent oil was trading at 78.44 USD/barrel, up 1.43 USD/ounce compared to early this morning.
Oil prices continue to rise today.
The American Petroleum Institute (API) reported that US commercial crude oil inventories fell by 6.7 million barrels last week. Analysts had expected a 525,000-million-barrel increase. Gasoline inventories fell by 6.398 million barrels, while distillate inventories fell by 1.771 million barrels. The decline in US gasoline inventories pushed prices higher.
In addition, world oil prices increased thanks to market optimism about the possibility that the US will avoid bankruptcy.
Falling oil drilling activity in the US increases the risk of supply shortages.
Oil prices were also supported by forecasts that US gasoline demand will surge during the summer.
Domestic gasoline prices
In the domestic market, the selling prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of May 22 of the Ministry of Finance - Industry and Trade. Accordingly, the price of E5 RON92 gasoline increased by 357 VND/liter, the new price is 20,488 VND/liter; RON95 gasoline increased by 499 VND/liter, to 21,499 VND/liter; diesel increased by 301 VND, to 17,954 VND/liter; fuel oil increased by 296 VND, the new price is 15,158 VND/kg.
Since the beginning of the year, gasoline prices have undergone 15 price adjustments, including 8 increases, 6 decreases, and 1 unchanged.
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