Gasoline price today September 25, 2023: Regaining momentum

On September 25, gasoline prices rebounded. At 7:30 a.m. (Vietnam time), US light sweet crude oil WTI increased by 0.33% to 90.36 USD/barrel; while Brent crude oil for December delivery increased by 0.42% to 92.35 USD/barrel.

According to MarketWatch, WTI oil prices have increased by nearly 13% in the past month and nearly 30% in the past 3 months. Similarly, Brent oil prices have increased by more than 10% in the past month and nearly 24% in the past 3 months.

Gasoline prices increased early this week

Oil prices jumped today on concerns that supply will tighten further in the coming period. Last week, Russia temporarily banned gasoline and diesel exports to most countries, with Transneft suspending diesel deliveries to the key Baltic and Black Sea ports of Primorsk and Novorossiysk on September 22.

Notably, Russia's crude oil supply increased by 50% this spring despite the sanctions imposed by the G7 countries earlier. Some analysts recall this event and say that the current oil price far exceeds the ceiling price that the European Union (EU), the G7 countries and Australia imposed on Russian oil at $60/barrel at the end of last year. Accordingly, Russia's oil revenue has increased sharply this year.

Domestically, information from Nghi Son Refinery and Petrochemical Company Limited (NSRP) updated over the weekend showed that the plant has completed 70% of the first overall maintenance plan, closely following the set schedule. Regarding the plan to deliver goods to the purchasing unit and the main units consuming petroleum products, NSRP has resumed supplying petroleum products from the plant's reserve warehouse since September 20, depending on the receiving plans of the units. Currently, NSRP is reserving more than 9,000m3 of gasoline and 75,000m3 of diesel. It is expected that on October 7-9, some technological workshops of the plant will be partially restarted.

On September 25, Petrolimex 's retail price list for gasoline (zone 2 - far from ports, warehouses...) on September 25 was as follows: RON 95-V gasoline 26,790 VND/liter, RON 95-III gasoline 26,250 VND/liter, E5 RON92 gasoline 24,670 VND/liter, diesel oil 25,060 - 24,930 VND/liter, kerosene 24,280 VND/liter, fuel oil 18,190 - 21,120 VND/liter./.

According to Thanh Nien

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