The world slightly decreased; this afternoon, the domestic market is forecast to increase after 5 sessions of decrease.

Today's gasoline price, September 19, the world slightly decreased. Domestic gasoline is forecast to record the first increase after the last 5 adjustments.

Today, September 19, the world's gasoline prices decreased slightly. Domestic gasoline is forecast to record the first increase after the last 5 adjustments. (Source: VTC News)

According to Oilprice , at 5:30 a.m. on September 19 (Vietnam time), WTI oil price decreased by 66 cents, Brent oil price maintained at 73.65 USD/barrel.

At the end of the trading session on September 18, oil prices fell slightly after the US Federal Reserve (Fed) announced an interest rate cut, raising concerns about the health of the US economy , despite a decrease in US oil inventories.

Brent crude fell 5 cents to $73.65 a barrel. WTI crude fell 28 cents to $70.91 a barrel.

The US central bank cut interest rates by 50 basis points, a much larger reduction in borrowing costs than many expected, raising concerns about a slowdown in the job market, Reuters reported. Rate cuts typically boost economic activity and energy demand, but a weaker labor market can slow the economy.

Limiting the decline in oil prices during the session was a report from the US Energy Information Administration (EIA) showing that in the week ending September 13, US oil inventories fell by 1.6 million barrels to 417.5 million barrels, more than three times the 500,000 barrel decrease expected by analysts, and opposite to the 1.96 million barrel increase reported by the American Petroleum Institute.

Oil production cuts due to Hurricane Francine have sent US inventories falling to a one-year low.

Investors may be assuming the drop in oil inventories is related to Hurricane Francine, which is a short-lived event, said Bob Yawger, director of energy futures at Mizuho Bank.

While crude oil inventories fell, gasoline and distillate inventories rose slightly, according to the EIA.

Brent crude has recovered some of its losses since September 10, when it fell below $70 a barrel, its lowest level since December 2021. According to Bob Yawger, oil prices will fluctuate around the resistance level of $75 a barrel due to weak global refining margins, signaling low demand.

Notably, during the session, oil prices were supported by the risk of increased conflict in the Middle East disrupting supplies after Hezbollah accused Israel of attacking its members with explosive-laden pagers in Lebanon.

Domestic retail prices of gasoline on September 19 are as follows:

E5 RON 92 gasoline is not more than 18,890 VND/liter.

RON 95-III gasoline is not more than 19,635 VND/liter.

Diesel oil not more than 17,165 VND/liter.

Kerosene not more than 17,790 VND/liter.

Fuel oil not exceeding 14,467 VND/kg.

The above domestic retail price of gasoline will be adjusted by the Ministry of Finance - Industry and Trade at the price management session this afternoon.

Because world oil prices rebounded last week after 3 weeks of decline, but oil prices still fluctuated up and down after the price adjustment by the inter-ministerial committee on September 12, it is likely that gasoline prices will record the first increase in the last 5 adjustments, oil prices will continue the downward trend of the previous 4 adjustments.

Gasoline prices may increase by 150 to 350 VND/liter, while oil prices are likely to decrease by about 120 to 250 VND/liter (kg).

Source: https://baoquocte.vn/gasoline-price-to-date-199-the-gioi-giam-nhe-chieu-nay-trong-nuoc-duoc-du-bao-dieu-chinh-tang-sau-5-phien-giam-286841.html