The world petroleum market this operating period (from May 2, 2024 – May 8, 2024) is influenced by factors such as: increased US commercial crude oil inventories, the dollar The United States strengthens its pressure on global oil demand, the military conflict between Russia and Ukraine continues, hopes for ceasefire negotiations in the Gaza Strip between Israel and Hamas…
The above factors have caused world gasoline prices in recent days to increase or decrease depending on each product, but the main trend is downward.
The average price of world petroleum products between the price management period on May 2, 2024 and the operating period on May 9, 2024 is: 94,126 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 7,217 USD/barrel , equivalent to a decrease of 7.12%); 98,380 USD/barrel of RON95 gasoline (down 7,373 USD/barrel, equivalent to a decrease of 6.97%); 94,538 USD/barrel of kerosene (down 4,825 USD/barrel, equivalent to a decrease of 4.86%); 95,964 USD/barrel of 0.05S diesel oil (down 4,321 USD/barrel, equivalent to a decrease of 4.31%); 514,680 USD/ton of 180CST 3.5S fuel oil (down 5,575 USD/ton, equivalent to a decrease of 1.07%).
This operating period, in response to the above developments in world petroleum prices, fluctuations in the VND/USD exchange rate and current regulations, the Ministry of Industry and Trade and Finance jointly decided on a plan to manage petroleum prices to ensure changes in petroleum prices. Domestic gasoline price fluctuations are consistent with world gasoline price fluctuations; continue to maintain the price difference between biofuel E5RON92 and mineral gasoline RON95 at a reasonable level to encourage the use of biofuel according to the Government’s policy; ensure harmony of interests among market participants.
