Gasoline prices today July 29: World prices increase, how is it domestically?

World oil prices rose more than 2% in the first trading session of the week after the US and EU reached a framework trade agreement. Domestically, petroleum products are forecast to fluctuate slightly in the price adjustment period this week (Thursday, July 31).

On the morning of July 29, oil prices rebounded, Brent crude oil increased by 1.60 USD/barrel, equivalent to 2.3%, to 70.04 USD/barrel; WTI crude oil increased by 1.55 USD/barrel, equivalent to 2.4%, to 66.71 USD/barrel.

Brent crude oil prices hit a 10-day high after US President Donald Trump said he would shorten the 50-day deadline he gave Russia over the conflict in Ukraine to 10-12 days. In addition, the US-EU framework trade agreement has supported the fuel market to increase prices. Information shows that the US will impose a 15% tax on most goods imported from the EU, while the EU pledged to buy $750 billion in energy from the US in the coming years.

Domestic gasoline prices are commonly below 20,000 VND/liter. PHOTO: NHAT THINH

Analysts say the deal not only bolsters the US energy industry, but also increases pressure on Russian President Vladimir Putin to return to the negotiating table.

In other developments, there is information that the trade negotiations between the US and China are likely to be extended by 90 days, before the deadline of August 12, which is also contributing to the increase in oil prices. The increase in oil prices is being stopped by the rising USD and the decrease in oil production in India - the world's second largest oil importer.

Domestically, updated prices of finished petroleum products on the Singapore market as of this morning (July 29) show that the estimated retail price of domestic petroleum is slightly higher than the world price, an increase of around 100 VND/liter. However, this forecast may change if the world oil price continues to increase in the next 2 sessions.

On the morning of July 29, the retail prices of gasoline and oil announced by the Ministry of Finance and Industry and Trade on the market were as follows: E5 RON92 gasoline 19,279 VND/liter, RON 95-III gasoline 19,709 VND/liter, diesel oil 19,129 VND/liter, kerosene 18,628 VND/liter, mazut oil 15,379 VND/kg./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2972025-the-gioi-bat-tang-trong-nuoc-the-nao-185250729084958061.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-29-7-the-gioi-bat-tang-trong-nuoc-the-nao-a199703.html