Domestic fuel prices today, June 27, 2024

In the domestic market, retail prices of petroleum products will be applied according to the new rates this afternoon (June 27).

Leaders of several petroleum companies predict that domestic gasoline and diesel prices may be adjusted upwards in this afternoon's price adjustment.

Petroleum companies predict that if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could increase by 450-600 VND/liter. Oil prices are expected to increase by 290-350 VND/liter, depending on the type.

If the Ministry of Finance and the Ministry of Industry and Trade use the Price Stabilization Fund, the increase in gasoline prices is likely to be smaller.

In the most recent fuel price adjustment (June 20th), the Ministry of Industry and Trade and the Ministry of Finance jointly adjusted fuel prices upwards for all products.

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Domestic fuel prices may be adjusted upwards this afternoon. Photo: Chi Hung

Accordingly, the price of E5 gasoline increased by 190 VND/liter, the selling price is 21,500 VND/liter. The price of RON 95 gasoline increased by 230 VND, the selling price is 22,460 VND/liter.

Similarly, diesel price was also adjusted up by 720 VND/liter, selling price at 20,360 VND/liter.
Meanwhile, the price of kerosene increased by 500 VND/liter, bringing the selling price to 20,350 VND/liter.

World oil prices today, June 27, 2024

On the global market, gasoline and oil prices are showing signs of rising today.

Trading session on June 26, oil prices fell slightly at the beginning of the session then turned to increase.

According to data from Oilprice, at 8:15 AM on June 26th (Vietnam time), Brent crude oil was listed at $84.92 per barrel, down 0.11% from the previous session. WTI crude oil was at $80.79 per barrel, down 0.05% from the previous session.

As of 9:11 PM on June 26th (Vietnam time), Brent crude oil was priced at $85.26 per barrel, up 0.29% from the previous session. WTI crude oil was at $81.02 per barrel, up 0.24% from the previous session.

Oil prices fell as US consumer confidence data for June showed a decline, raising concerns about a weakening economic outlook that could reduce gasoline demand.

In addition, high inventory levels are causing traders to worry about oil demand in the US this summer.

Data from the American Petroleum Institute shows that in the week ending June 21, gasoline inventories in the country increased by 3.843 million barrels, while diesel inventories increased by 914,000 barrels.

However, geopolitical tensions have driven oil prices higher. These tensions are expected to continue amid unsuccessful efforts to find a ceasefire agreement.

The conflict between Israel and Hezbollah forces continues to escalate. Israel conducted three separate airstrikes on Gaza City (in the Gaza Strip) in the early morning of June 25th.

Meanwhile, Houthi attacks on shipping in the Red Sea continue.

Oil prices today, June 26, 2024, weakened . Oil prices today, June 26, 2024, on the international market weakened due to the strengthening of the greenback and investors remaining cautious about the possibility that high interest rates will remain for a long time.