Fuel prices reverse course and fall.

Fuel prices today, effective from 3 PM on November 14th. Accordingly, each liter of E5 RON 92 gasoline decreased by 292 VND/liter, RON 95 gasoline decreased by 247 VND/liter; diesel prices also adjusted downwards.

The Ministry of Industry and Trade and the Ministry of Finance have just adjusted retail gasoline and diesel prices in today's adjustment period (November 14). The prices will be effective from 3 PM on November 14, 2024.

Today's fuel prices, effective from 3 PM on November 14th, show a decrease of 292 VND per liter for E5 RON 92 gasoline and 247 VND per liter for RON 95 gasoline; diesel prices have also been adjusted downwards. (Photo: TH)

Specifically, the price of E5 RON 92 gasoline decreased by 292 VND/liter, to 19,452 VND/liter; RON 95 gasoline decreased by 247 VND/liter, to 20,607 VND/liter.

Diesel fuel 0.05S decreased by 344 VND/liter, to 18,573 VND/liter; kerosene decreased by 306 VND/liter, to 18,988 VND/liter; mazut 180CST 3.5S decreased by 385 VND/kg, to 16,009 VND/kg.

During this price adjustment period, the Ministry of Industry and Trade and the Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.

According to the Ministry of Industry and Trade, the average price of refined petroleum products in the world between the price adjustment period of November 7, 2024 and the price adjustment period of November 14, 2024 was: 78.254 USD/barrel for RON92 gasoline used to blend E5RON92 gasoline (down 1.716 USD/barrel, equivalent to a 2.15% decrease); 84.128 USD/barrel for RON95 gasoline (down 1.372 USD/barrel, equivalent to a 1.60% decrease); 89.068 USD/barrel for kerosene (down 1.842 USD/barrel, equivalent to a 2.03% decrease); 88.638 USD/barrel for 0.05S diesel oil (down 2.055 USD/barrel, equivalent to a 2.27% decrease). 450,204 USD/ton for 180CST 3.5S fuel oil (down 14,151 USD/ton, equivalent to a 3.05% decrease).

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Establishing the first week of decline.

At 6:00 AM on November 14th, WTI crude oil prices rose by $0.33, or 0.48%, to $68.1 per barrel. Brent crude oil prices increased by $0.39, or 0.54%, to $72.28 per barrel.

Oil prices recovered due to short-covering activity a day after falling to near a two-week low on OPEC's forecast of reduced demand, but crude gains were limited as the US dollar hit a seven-month high.

The U.S. Energy Information Administration said on Wednesday that U.S. and global oil production are both expected to rise to record highs slightly higher this year than previously forecast.

US oil production is currently projected to average 13.23 million barrels per day this year, and global production is expected to reach 102.6 million barrels per day.

The International Energy Agency, which forecasts demand growth much lower than OPEC, is expected to release its updated estimates on Thursday.

In the most recent price adjustment (November 7th), the prices of all types of gasoline and diesel (except fuel oil) were increased by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted upwards by 340 VND/liter, bringing the selling price to 19,740 VND/liter. Meanwhile, the price of RON 95 gasoline increased by 350 VND/liter, reaching 20,850 VND/liter.

Similarly, the price of diesel fuel was sharply increased by 770 VND/liter, bringing the selling price to 18,910 VND/liter. The price of kerosene increased by 460 VND/liter, reaching 19,290 VND/liter.

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During this price adjustment period, the Ministry of Industry and Trade and the Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.

Recently, the Ministry of Finance also proposed continuing to apply environmental protection taxes at 2,000 VND/liter for gasoline; 1,000 VND/liter for aviation fuel, diesel, fuel oil, and lubricating oil; and 1,000 VND/kg for lubricating grease... in 2025.

From 2026, the environmental protection tax is expected to return to its ceiling levels, as stipulated: gasoline (excluding ethanol) at 4,000 VND/liter; aviation fuel at 3,000 VND/liter; diesel, fuel oil, and lubricating oil at 2,000 VND/liter; kerosene at 1,000 VND/liter; and lubricating grease at 2,000 VND/kg.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-ngay-14112024-gia-xang-dau-quay-dau-giam-358746.html