Domestic gasoline prices today February 7, 2024
In the domestic market, the selling price of gasoline and oil today, February 7, is applied according to the price of the operating session on the afternoon of February 1.
Accordingly, the retail price of gasoline and oil was adjusted up by the Ministry of Finance - Ministry of Industry and Trade. In particular, the price of RON 95 gasoline increased beyond the mark of 24,000 VND/liter.
Specifically, the price of E5 gasoline increased to 22,910 VND/liter. Meanwhile, the price of RON 95 gasoline was raised to 24,160 VND/liter.
Diesel price increased to 20,990 VND/liter and kerosene price increased to 20,920 VND/liter.
Retail price of gasoline today:
| Item | Price from 1/2 (unit: VND/liter) | Compared to previous period |
| Gasoline RON 95-III | 24,160 | + 760 |
| Gasoline E5 RON 92-II | 22,910 | + 740 |
| Diesel | 20,990 | + 620 |
| Oil | 20,920 | + 380 |
World oil prices today February 7, 2024
On the world market, gasoline and oil prices today, February 7, continued the upward trend from the previous two sessions. Oil prices are on the way to conquering the 80 USD/barrel mark again.
Data from Oilprice shows that at 10:23 a.m. on February 7 (Vietnam time), Brent crude oil was trading at $78.68 per barrel, up $0.09, or 0.11%, from the previous session. WTI crude oil was at $73.45 per barrel, up $0.14, or 0.19%, from the previous session.
On February 6, international oil prices continued to increase following the upward trend from the beginning of the week.
According to data from Oilprice, at 7:06 p.m. on February 6 (Vietnam time), Brent oil was trading at $78.47 per barrel, up $0.48, or 0.62%, from the previous session. Meanwhile, WTI oil was recorded at $73.2 per barrel, up $0.42, or 0.58%, from the previous session.
Analysts say oil prices are rising due to concerns that tensions in the Middle East and Russia's military campaign in Ukraine could limit global supplies.
A Ukrainian drone attack on Russia’s largest oil refinery in southern Russia last weekend has cut the country’s exports of light crude naphtha, putting Russian oil supplies at risk, Reuters reported.
Meanwhile, the US and UK continue their campaign against 36 Houthi targets in Yemen after the group repeatedly attacked shipping vessels, disrupting global oil trade routes.
However, concerns about the outlook for oil demand have limited oil prices’ gains. Analysts say expectations of “higher for longer” interest rates in the U.S. and elsewhere, along with signs of continued economic trouble in China, could limit oil demand.
Traders remain cautious and are closely monitoring the situation in the Middle East.
On February 5, US Secretary of State Antony Blinken arrived in Saudi Arabia, the first stop on his tour of the Middle East.
Investors are waiting to see if the top US diplomat's Middle East tour will end the war in the Gaza Strip.
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