E5 RON 92 gasoline decreased; RON 95 gasoline increased slightly

Today's fuel prices (April 4, 2024): E5 RON 92 gasoline increases; RON 95 gasoline decreases slightly. Today's fuel prices (April 11, 2024): World oil prices rise again, how will domestic prices be adjusted this afternoon?

The Ministry of Finance and the Ministry of Industry and Trade have just adjusted retail gasoline and diesel prices in today's adjustment period (April 11). The prices will be applied from 3 PM on April 11, 2024.

Giá xăng dầu hôm nay ngày 11/4/2024: Xăng E5 RON 92 giảm; xăng RON 95 tăng nhẹ

Today's fuel prices, effective from 3 PM on April 11th, are as follows: E5 RON 92 gasoline decreased by 68 VND per liter, RON 95 gasoline increased by 20 VND; diesel and kerosene prices increased.

Specifically, the price of E5 RON 92 gasoline decreased by 68 VND/liter, to 23,848 VND/liter; while RON 95 gasoline increased by 20 VND/liter to 24,821 VND/liter.

Diesel fuel 0.05S: Increased by 622 VND/liter, reaching 21,610 VND/liter; Kerosene increased by 579 VND/liter, reaching 21,594 VND/liter; Fuel oil 180CST 3.5S decreased by 288 VND/kg to 17,008 VND/kg.

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

At the same time, the Price Stabilization Fund for petroleum products will not be used 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 April 4, 2024 and the price adjustment period of April 11, 2024 was: 102.143 USD/barrel for RON92 gasoline used to blend E5RON92 gasoline (an increase of 0.013 USD/barrel, equivalent to a 0.01% increase); 106.520 USD/barrel for RON95 gasoline (an increase of 0.230 USD/barrel, equivalent to a 0.22% increase); 106.833 USD/barrel for kerosene (an increase of 4.068 USD/barrel, equivalent to a 3.96% increase); 107.468 USD/barrel for 0.05S diesel oil (an increase of 3.573 USD/barrel, equivalent to a 3.44% increase). 503,588 USD/ton for 180CST 3.5S fuel oil (an increase of 8,728 USD/ton, equivalent to a 1.76% increase).

On the world market, gasoline and oil prices continued their upward trend from the previous session, reclaiming the $90/barrel mark today, April 11th.

According to data from Oilprice, at 8:12 AM on April 11th (Vietnam time), Brent crude oil was trading at $90.54 per barrel, up $0.06, or 0.07%, from the previous session. WTI crude oil was at $86.26 per barrel, up $0.05, or 0.06%, from the previous session. On April 10th, global oil prices reversed course and rose after falling in the first two sessions of the week.

Negotiations in Cairo, Egypt, attended by US Central Intelligence Agency Director William Burns, have so far failed to achieve a breakthrough.

Reuters reports that Iran may close the Strait of Hormuz if it deems it necessary. Approximately one-fifth of the world's total oil consumption passes through this strait daily.

Meanwhile, Türkiye announced it would restrict exports of many products, including jet fuel, to Israel until a ceasefire is in place.

Pemex, Mexico's state-owned oil company, announced that it will reduce crude oil exports by 330,000 barrels per day in May to supply domestic refineries. The company had already cut exports to 436,000 barrels per day in April.

Meanwhile, the U.S. Energy Information Agency (EIA) raised its forecast for U.S. crude oil production by 280,000 barrels per day to 13.21 million barrels per day this year, higher than its previous forecast of 260,000 barrels per day.

The EIA projects that Brent crude oil prices will average $88.55 per barrel in 2024, up from its previous forecast of $87 per barrel.

In the most recent fuel price adjustment (April 4th), retail prices of petroleum products were adjusted downwards for RON 95 gasoline but increased for E5 RON 92 gasoline and other diesel products. Specifically, the price of RON 95 gasoline decreased by 10 VND/liter, bringing the selling price down to 24,800 VND/liter.

Conversely, the price of E5 gasoline increased by 290 VND/liter, reaching 23,910 VND/liter.

Diesel fuel prices were also adjusted upwards by 290 VND/liter, bringing the retail price to 20,980 VND/liter. Kerosene prices increased by 140 VND/liter, reaching 21,010 VND/liter.

In this price adjustment period, the Ministry of Finance and the Ministry of Industry and Trade neither allocated funds to nor disbursed funds from the Price Stabilization Fund for most types of petroleum products, except for a allocation of 300 VND/liter for fuel oil.

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