Gasoline prices today (December 8): Price increase trend

World oil prices

Last week, oil prices recorded 4 sessions of increase and 1 session of decrease. Overall, Brent oil prices increased by about 1%, WTI oil increased by about 3%, marking the second consecutive week of increase for both types of oil.

According to Reuters, one of the factors supporting oil prices today is the impact of Ukrainian drone attacks, the US warning to close Venezuela's airspace and OPEC's decision to keep the group's crude oil production unchanged until the end of December 2026.

“The market is feeling very uneasy about the possibility of a reduction in Russian crude supplies. Traders are watching closely to see if the Russia-Ukraine deal goes off the rails,” said John Kilduff, partner at Again Capital LLC.

The Ukrainian attacks combined with OPEC's production commitment have pushed oil prices up, according to Phil Flynn, senior analyst at Price Futures Group.

Oil prices were also supported as investors bet the US Federal Reserve would cut interest rates next week, amid geopolitical turmoil that could limit supplies from Russia and Venezuela.

"I think the possibility of a Fed rate cut is outweighing everything else and is driving crude oil prices higher," said Phil Flynn, senior analyst at Price Futures Group.

“Overall, global supply remains quite abundant. The market is adjusting itself, the Ukraine-Russia peace agreement is still delayed. The market is trading in a very uncertain mood, due to the influence of geopolitical issues,” said Dennis Kissler, senior vice president in charge of trading at BOK Financial.

Based on current data, analysts say oil prices are likely to increase next week amid rising geopolitical tensions; OPEC+'s decision to maintain oil production levels until the end of 2026; concerns about supply disruptions from Russia and Venezuela... Along with that, the Fed's ability to cut interest rates next week will play a key role in the oil price trend next week.

Domestic gasoline prices

Domestic retail prices of gasoline on December 8 are as follows:

E5RON92 gasoline	Not higher than 19,822 VND/liter
RON95-III gasoline	Not higher than 20,460 VND/liter
Diesel oil 0.05S	Not higher than 18,380 VND/liter
Oil	Not higher than 18,893 VND/liter
Mazut oil 180 CST 3.5S	Not higher than 13,436 VND/kg

The Ministry of Industry and Trade and the Ministry of Finance jointly announced the adjustment of domestic gasoline retail prices, effective from 3 p.m. on December 4. Accordingly, gasoline prices increased by 400-500 VND/liter; oil prices decreased by 52-580 VND/liter. Specifically, E5RON92 gasoline prices increased by 534 VND/liter, RON95-III gasoline increased by 451 VND/liter, diesel oil decreased by 420 VND/liter, kerosene decreased by 580 VND/liter and mazut oil decreased by 52 VND/kg.

Thus, since the beginning of the year, domestic gasoline prices have undergone 50 adjustments, of which RON95 gasoline has increased 27 times, decreased 23 times; diesel has increased 24 times, decreased 25 times and remained unchanged once.

Source: https://baolangson.vn/gasoline-price-hom-nay-8-12-xu-huong-tang-gia-5067257.html