Gasoline price today 11/6/2024: Slight increase due to storm

Gasoline prices today November 6, 2024: World oil prices increased slightly due to storms in the Gulf of Mexico before the fluctuations of the US Presidential election results

Gasoline price today November 6, 2024

Recorded on Oilprice at 5:00 a.m. on November 6, 2024 (Vietnam time), WTI oil price was at 72.05 USD/barrel, up 0.78% (equivalent to an increase of 0.56 USD/barrel).

WTI oil price on the world market in the early morning of November 6, 2024 (Vietnam time)

Similarly, Brent oil price was at 75.46 USD/barrel, up 0.60% (equivalent to an increase of 0.45 USD/barrel).

Brent oil price on the world market early morning November 6, 2024 (Vietnam time)

Oil prices rose about 1% today as a hurricane is expected to cut U.S. output in the Gulf of Mexico and as the U.S. dollar weakened on Election Day with polls showing the race for the U.S. White House is extremely tight.

“ Crude oil prices are rising on increased supply/demand dynamics, geopolitics and election fever, with a little bit of weather to add stability ,” Bob Yawger, director of energy futures at Mizuho, said in a report.

The US presidential race between former Republican President Donald Trump and Democratic Vice President Kamala Harris is reaching an uncertain conclusion as Americans head to the polls.

" The (election) results could take days, if not weeks, to be known and will likely be challenged and contested, " said Tamas Varga, an analyst at PVM, a brokerage and consultancy owned by TP ICAP.

The dollar slid to a three-week low against other currencies as traders balanced positions ahead of the election results. A weaker dollar makes oil cheaper in other countries.

The US services sector accelerated to its highest level in more than two years in October as employment rebounded strongly, suggesting last month's near-stagnant job growth was an anomaly.

The U.S. trade deficit jumped to its highest level in nearly 2 1/2 years in September. Elsewhere in the U.S., energy companies in the Gulf of Mexico have begun evacuating workers from offshore rigs ahead of Tropical Storm Rafael, which is expected to strengthen into a hurricane this week. Analysts say the storm could knock about 4 million barrels off oil production.

On Sunday, the Organization of the Petroleum Exporting Countries and its OPEC+ allies said they would delay the timing of their output increase by a month from December as weak demand and rising non-OPEC supply weighed on the market.

The world's top oil exporter Saudi Arabia has cut the price of its flagship Arabian light crude it sells to Asia in December.

Domestic retail gasoline prices on November 6, 2024 will be applied according to the adjustment session from 3:00 p.m. on October 31 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	19,408	-284
RON 95 gasoline	20,503	-391
Diesel	18,148	+91
Oil	18,833	+263
Fuel oil	16,461	+232

Specifically, the price of E5 RON 92 gasoline decreased by VND284/liter, down to VND19,408/liter; RON 95 gasoline decreased by VND391/liter, down to VND20,503/liter.

Diesel 0.05S price: Increased by 91 VND/liter, at 18,148 VND/liter; Kerosene increased by 263 VND/liter, at 18,833 VND/liter; Mazut 180CST 3.5S increased by 232 VND/kg, at 16,461 VND/kg.

Gasoline price today November 6, 2024. Illustration photo

In this management 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 mazut oil.

Thus, from the beginning of 2024 to now, domestic gasoline prices have undergone 43 adjustment sessions, including 21 decrease sessions, 17 increase sessions and 6 opposite sessions.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-6112024-tang-nhe-do-bao-357037.html