The world is stagnant; will domestic gasoline prices increase or decrease this afternoon?

Gasoline prices today, December 26, due to the decrease in world prices last week and slight fluctuations in prices in recent sessions, it is likely that domestic gasoline prices will also decrease.

Gasoline prices today, December 26, due to the decrease in world prices last week and slight fluctuations in recent sessions, it is likely that domestic gasoline prices will also decrease. (Photo: Ngoc Ha)

Brent crude oil prices are currently anchored at $73.58/barrel and WTI crude oil is stable at $70.1/barrel in the trading session on December 25 because the US market is closed for the day due to the Christmas holiday. According to Reuters , there are also no reports on the global oil market on December 25.

Oil prices rose more than 1% in trading on December 24, supported by news that China will issue special treasury bonds worth up to 3 trillion yuan ($411 billion) in 2025. This will be the largest issuance ever, three times the value of the 1 trillion yuan issuance in 2024. This special treasury bond issuance is expected to increase fiscal stimulus, reviving the weakening economy .

2024 is drawing to a close. The latest economic data from the US shows that the US economy is growing strongly. Reuters reported that new orders for key US manufactured goods jumped 0.7% in November after falling 0.1% in October. Demand for machinery increased sharply, while new home sales rebounded from the effects of the hurricane.

Although consumer confidence fell sharply in December, down 8.1 points to 104.7, consumers remained optimistic about the outlook for the labor market. Together with strong consumer spending data last week, the new data reinforces the case for fewer rate cuts from the Federal Reserve next year.

At its mid-December meeting, the Fed cut interest rates by 0.25 percentage points to 4.25%-4.5%, as expected by analysts, but signaled that it would only cut rates by another 50 basis points next year. This sent oil prices tumbling. However, the catalyst from Beijing has warmed the oil market.

In terms of supply-demand growth next year, analysts say crude oil production from countries outside the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will increase amid modest growth in global crude oil demand. This will help keep the market well supplied. However, according to Oilprice , analysts remain cautious when it comes to crude oil prices amid a myriad of uncertainties in 2025.

Domestic retail prices of gasoline on December 26 are as follows:

E5 RON 92 gasoline is not more than 20,244 VND/liter.

RON 95-III gasoline is not more than 21,004 VND/liter.

Diesel oil not more than 18,733 VND/liter.

Kerosene not more than 18,968 VND/liter.

Fuel oil not exceeding 15,903 VND/kg.

The above domestic retail price of gasoline and oil will be adjusted by the Ministry of Finance - Ministry of Industry and Trade in the price management session this afternoon (December 26). Due to the decrease in world gasoline and oil prices last week and the slight fluctuations in recent sessions, it is likely that domestic gasoline and oil prices will also decrease, by about 100-500 VND/liter (kg).

In the most recent price adjustment period, the price of E5 RON 92 gasoline increased by 383 VND/liter, RON 95-III gasoline increased by 408 VND/liter, diesel increased by 478 VND/liter, kerosene increased by 402 VND/liter, and fuel oil increased by 329 VND/kg.

Source: https://baoquocte.vn/gia-xang-dau-hom-nay-2612-the-gioi-chung-trong-nuoc-chieu-nay-gia-xang-se-tang-hay-giam-298670.html