Gasoline price today November 30: Slight decrease

World oil prices

At 6:20 a.m. on November 30, Brent oil price was at 72.94 USD/barrel, down 0.23 USD/barrel. WTI oil price was at 68 USD/barrel, down 0.88 USD.

Oil prices ended the week's final trading session on November 29, with a slight decline, mainly due to concerns about supply risks from the conflict between Israel and Hezbollah "cooling down". At the same time, the prospect of increased supply in 2025 remains, despite the Organization of the Petroleum Exporting Countries and its allies (OPEC +) expected to extend the production cut agreement.

The ceasefire between Israel and Hezbollah, which took effect on November 27, has reduced the risk premium for oil, leading to a drop in oil prices, although both sides continue to accuse each other of violating the agreement. According to Reuters , information from the International Energy Agency (IEA) shows that the conflict in the Middle East has not disrupted supply and is expected to have a surplus of more than 1 million barrels per day, equivalent to more than 1% of global production, by 2025.

Illustration photo: Petrovietnam .

According to Tamas Varga, an expert at PVM Oil Brokerage, the average oil price in 2025 is expected to be lower than the level of 2024. Meanwhile, OPEC+ has adjusted the policy meeting schedule to December 5 instead of December 1, and is expected to decide to extend the production cuts at this meeting.

Saxo Bank analyst Ole Hansen commented that after two production hike delays, OPEC+ must consider the risk of further weakness in oil prices amid output from non-OPEC+ producers that could lead to a crude surplus next year.

A Reuters poll of 41 analysts found Brent crude could average $74.53 a barrel in 2025, down from an October forecast of $76.61. This is the seventh straight downward revision to the global benchmark oil price forecast for next year. Oil has averaged $80 a barrel so far this year.

Analysts also forecast WTI oil prices to average $70.69 a barrel in 2025, lower than last month's expectation of $72.73 a barrel.

Domestic gasoline prices

In the operating period on November 28, the price of E5 RON92 gasoline increased by 497 VND/liter, not higher than 19,840 VND/liter. RON95 gasoline increased by 329 VND/liter, not higher than 20,857 VND/liter.

Diesel price increased by 268 VND/liter, not higher than 18,777 VND/liter. Kerosene increased by 221 VND/liter, not higher than 19,142 VND/liter and fuel oil price increased by 111 VND/kg, to 16,125 VND/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance continues not to set aside or use the petroleum price stabilization fund for any products.

Cong Hieu

Source: https://vtcnews.vn/gasoline-price-hom-nay-30-11-giam-nhe-ar910541.html