The world is covered in green; domestic prices may turn up this week

Gasoline prices today, March 17, world gasoline prices start the new week in green. Domestic gasoline prices this week may turn up.

Gasoline prices today, March 17, world gasoline prices start the new week in green. Domestic gasoline prices this week may turn up.

Oil prices edged up last week, supported mainly by concerns that US tariff policies would slow the global economy , reducing energy demand.

Also last week, data showed the US PCI rose 0.2% in February, the lowest increase since October 2024.

Meanwhile, a survey by the University of Michigan showed that US consumer sentiment fell sharply in March to its lowest level in nearly 2 1/2 years and inflation expectations jumped amid concerns that President Donald Trump’s sweeping tariffs, which have sparked a trade war, will push up prices and weaken the economy. However, the PCI index was contained, reinforcing market expectations that the US Federal Reserve will keep interest rates unchanged after concluding its two-day policy meeting in the middle of this week.

Investors are also anticipating a rate cut later this year and will be looking for signs that the Fed may be preparing to act. Fed Chairman Jerome Powell's comments at a press conference after the monetary policy decision will be in focus.

The Federal Open Market Committee (FOMC) meeting this week will play a key role in shaping expectations for Fed policy, said Ricardo Evangelista, senior analyst at ActivTrades.

Over the past month, investors have stepped up bets that the Fed will ease interest rates this year, with three quarter-point cuts. The current US interest rate is 4.25% - 4.5%.

This week, in addition to hints about US interest rates, according to Reuters, news about tariffs is likely to remain the focus of market attention, as analysts say the tariffs could affect corporate profits and push up consumer prices.

Trump recently threatened to impose a 200% tariff on all wine and other alcoholic products from Europe. A day earlier, the European Commission said it would impose reciprocal tariffs on $28 billion worth of US goods, in response to US tariffs on steel and aluminum.

While the Fed has been “front and center” for markets in recent years, other policy moves are likely to impact markets in the coming months, said Nathan Thooft, chief investment officer of equity and multi-asset solutions at Manulife Investment Management. It could still be a back-and-forth on the tariff front.

According to Commerzbank analysts, whether Brent oil prices can remain around the $70/barrel mark recorded in the past two weeks depends on political news.

US President Donald Trump is expected to speak with his Russian counterpart Vladimir Putin this week about ways to end the conflict in Ukraine. Trump is trying to win Putin’s support for a 30-day ceasefire proposal that Ukraine has accepted.

Meanwhile, in the Red Sea, the US is attacking Houthi forces. The US said it will only stop the attack when the Houthis stop attacking US ships.

On the Houthi side, the leader of this force, Abdul Malik al-Houthi, said that his fighters will target US ships in the Red Sea if the US continues its attacks on Yemen. "If they continue to be aggressive, we will continue to escalate," Mr. Abdul Malik al-Houthi firmly said.

Domestic retail prices of gasoline on March 17 are as follows:

E5 RON 92 gasoline is not more than 19,281 VND/liter.

RON 95-III gasoline is not more than 19,649 VND/liter.

Diesel oil not more than 17,898 VND/liter.

Kerosene not more than 18,090 VND/liter.

Fuel oil not exceeding 16,995 VND/kg.

The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of March 13. Due to the sharp decrease in world gasoline and oil prices last week, domestic gasoline and oil prices also followed suit, recording the third consecutive decrease. The price of E5 RON 92 gasoline decreased by 680 VND/liter, RON 95-III gasoline decreased by 753 VND/liter, kerosene decreased by 483 VND/liter, diesel oil decreased by 435 VND/liter, and fuel oil decreased by 155 VND/kg.

In this operating period, the joint ministries did not set aside or use the Petroleum Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel oil, kerosene, and fuel oil.

Source: https://baoquocte.vn/gasoline-price-today-173-the-gioi-sac-xanh-bao-trum-trong-nuoc-tuan-nay-co-the-quay-dau-tang-307847.html