Gasoline prices today (August 29): All increased

World oil prices

According to Reuters, at the end of the trading session on August 28, Brent oil price increased by 0.57 USD/barrel, equivalent to 0.8%, to 68.62 USD/barrel; WTI oil price increased by 0.45 USD/barrel, equivalent to 0.7%, to 64.60 USD/barrel.

Traders are also closely watching India’s response to pressure from the US to stop buying Russian oil, after Mr Trump doubled import duties on Indian goods to 50% on August 27.

However, despite the pressure, traders said India's oil imports from Russia were still expected to rise in September.

Oil prices were under pressure earlier as the market worried about a drop in fuel demand after the Labor Day holiday in the US. In addition, oil supplies were forecast to increase further as OPEC+ planned to increase production by 547,000 barrels per day in September.

According to experts at consulting firm Ritterbusch and Associates, the drop in demand and the increase in supply will cause oil inventories to rise, which will put pressure on the energy market as the end of the summer season, gasoline demand declines and refineries switch to producing cheaper winter fuel.

Russia’s restoration of oil supplies via the Druzhba pipeline to Hungary and Slovakia also helped to curb the price increase, after the pipeline was disrupted by a Ukrainian attack on Russia last week.

Domestic gasoline prices

Domestic retail prices of gasoline on August 29 are as follows:

- E5RON92 gasoline: No higher than 19,771 VND/liter

- RON95-III gasoline: No higher than VND 20,363/liter

- Diesel 0.05S: Not higher than 18,357 VND/liter

- Kerosene: Not higher than 18,225 VND/liter

- Mazut oil 180CST 3.5S: Not higher than 15,260 VND/kg

In response to recent developments in world petroleum product prices, the above domestic petroleum retail prices were adjusted by the Ministry of Industry and Trade - Ministry of Finance from the afternoon of August 28. Accordingly, petroleum prices increased simultaneously. E5RON92 gasoline price increased by 307 VND/liter, RON95-III gasoline increased by 271 VND/liter, diesel increased by 452 VND/liter, kerosene increased by 411 VND/liter, and fuel oil increased by 144 VND/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

According to the joint ministries, the world oil market in this management period is affected by the following main factors: the US increases taxes on imported goods from India; US crude oil reserves decrease more sharply than forecast; the conflict between Russia and Ukraine continues, both sides increase attacks on each other's energy facilities... The above factors have caused world oil prices to fluctuate up and down in recent days depending on each product.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-29-8-dong-loat-tang-5057471.html