Gasoline price today (November 6): Lowest in the past 2 weeks

Oil prices fell more than 1%, hitting a two-week low due to concerns over global oversupply. Domestic gasoline prices may fall in the November 6 adjustment period.

World oil prices

World oil prices fell more than 1% in the trading session on November 5, reaching a two-week low due to concerns about a global oversupply. However, data showing fuel demand in the US remained high, helping to limit the decline in oil prices.

According to Reuters, Brent crude oil price decreased by 0.92 USD, equivalent to 1.43%, to 63.52 USD/barrel. Meanwhile, WTI crude oil price decreased by 0.96 USD, equivalent to 1.59%, to 59.6 USD/barrel.

Matt Smith, oil analyst for the Americas at Kpler, said the resurgence in oil imports coupled with weaker refining activity due to seasonal maintenance has led to a build in US crude inventories.

According to the US Energy Information Administration (EIA), the country's crude oil inventories increased by 5.2 million barrels last week, to 421.2 million barrels, much higher than analysts' forecast of an increase of 603,000 barrels.

World oil prices hit a two-week low due to concerns about global oversupply. Illustration photo: Reuters

Still, stronger-than-expected gasoline demand kept oil prices from falling too far. Gasoline inventories fell 4.7 million barrels to 206 million barrels, compared with analysts' forecasts for a 1.1 million barrel decline.

In addition, the new budget plan announced by Canadian Prime Minister Mark Carney on November 4 shows that the country may abolish the limit on oil and gas emissions. This move raises concerns about the risk of oversupply of oil in the market.

“Canada could abandon its controversial emissions control strategy, paving the way for increased oil production,” said Phil Flynn, senior market analyst at Price Futures Group.

The Organization of the Petroleum Exporting Countries (OPEC) and its partners (OPEC+) agreed to increase production by 137,000 barrels per day in December and decided to temporarily suspend quota adjustments in the first quarter of 2026.

Kazakhstan's crude oil production fell 10% last month to 1.69 million barrels per day, according to Reuters, but still exceeded the production quota set by OPEC+.

In another development, Ukrainian drone attacks on November 2 hit the Tuapse oil port - Russia's key oil export hub on the Black Sea coast, forcing the refinery there to stop operations, leading to a temporary halt in fuel exports.

Oil prices continue to be under pressure due to concerns about oversupply and large inventories in the US. However, geopolitical uncertainties could cause oil prices to fluctuate again.

Domestic gasoline prices

Domestic retail prices of gasoline on November 6, specifically as follows:

E5RON92 gasoline	Not higher than 19,760 VND/liter
RON95-III gasoline	Not higher than 20,488 VND/liter
Diesel oil 0.05S	Not higher than 19,203 VND/liter
Oil	Not higher than 19,271 VND/liter
Mazut oil 180 CST 3.5S	Not higher than 14,639 VND/kg

The Ministry of Industry and Trade and the Ministry of Finance decided to adjust the retail price of gasoline from 3:00 p.m. on October 30. Accordingly, gasoline prices increased simultaneously. Specifically, the price of E5RON92 gasoline increased by 710 VND/liter, RON95-III gasoline increased by 762 VND/liter, diesel increased by 1,318 VND/liter, kerosene increased by 1,156 VND/liter and fuel oil increased by 541 VND/kg.

Thus, since the beginning of the year, domestic gasoline prices have undergone 45 adjustments, of which RON95 gasoline has increased 25 times, decreased 20 times; diesel has increased 22 times, decreased 22 times and remained unchanged once.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-6-11-thap-nhat-trong-2-tuan-qua-5064051.html