Up more than 1% last week

Gasoline and oil prices today, December 30, 2024: This week, oil prices have reversed course and risen, supported by news related to China and US oil inventories.

Gasoline and diesel prices today, December 30, 2024

According to Oilprice at 5:00 AM on December 30, 2024 (Vietnam time), WTI crude oil was priced at $70.26 per barrel, an increase of 1.41% (equivalent to an increase of $0.98 per barrel).

WTI oil prices on the world market early morning of December 30, 2024 (Vietnam time)

Similarly, Brent crude oil prices stood at $74.0 per barrel, up 1.24% (equivalent to an increase of $0.91 per barrel).

Brent crude oil prices on the world market early morning of December 30, 2024 (Vietnam time)

Last week, the global oil market witnessed a price recovery after a volatile week. Although the week started in the red due to concerns about oversupply in 2025 and a stronger US dollar, oil prices quickly regained upward momentum on Monday thanks to news that China issued a large amount of special treasury bonds.

However, the upward momentum stalled on Tuesday as the US market closed for a holiday. On Wednesday, a stronger US dollar put downward pressure on prices, but data showing a decrease in US crude oil inventories from the API limited the decline. Ultimately, oil prices closed the week up more than 1% as the US Energy Information Agency (EIA) released stronger-than-expected inventory figures, coupled with expectations of increased demand from China after the World Bank raised its economic growth forecast. As a result, WTI and Brent oil prices rose approximately 1.4% for the week, marking a week of gains after the previous week's decline.

In addition, the oil market is also affected by OPEC+'s decision to extend production cuts, the International Energy Agency's (IEA) revised demand outlook, and OPEC's continuous cuts to its demand growth forecast. Increased supply from non-OPEC+ countries and slowing demand, particularly from China, also pose challenges for the oil market in the coming year.

In summary, the oil market last week was volatile, with alternating increases and decreases driven by various factors. Although it ended the week with a slight gain, the market still faces numerous challenges regarding supply and demand in the coming year.

Domestic retail gasoline and diesel prices on December 30, 2024, are applied according to the adjustment made at 3 PM on December 26 by the Joint Ministry of Finance - Ministry of Industry and Trade.

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E5 RON 92 gasoline	19,817	-427
RON 95 gasoline	20,547	-457
Diesel	18,630	-103
Oil	18,708	-260
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Specifically, the price of E5 RON 92 gasoline decreased by 427 VND/liter, to 19,817 VND/liter; RON 95 gasoline decreased by 457 VND/liter, to 20,547 VND/liter.

Diesel fuel 0.05S decreased by 103 VND/liter, to 18,630 VND/liter; kerosene decreased by 260 VND/liter, to 18,708 VND/liter. However, mazut 180CST 3.5S increased by 67 VND/kg, reaching 15,970 VND/kg.

Gasoline and diesel prices today, December 30, 2024. Photo: Dinh Tuan

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

Thus, from the beginning of 2024 until now, domestic gasoline prices have undergone 51 adjustments, including 24 decreases, 20 increases, and 8 changes.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-30122024-tang-hon-1-trong-tuan-qua-366894.html