Gasoline price today August 6: World price drops sharply, domestic gasoline still increases?

World crude oil prices have fallen to their lowest level in the past 5 weeks. However, the forecast for gasoline prices at the management session tomorrow afternoon (Thursday, August 7) ​​is still mixed in the direction of gasoline prices increasing.

On the morning of August 6, oil prices continued to decline, Brent oil decreased by 1.12 USD/barrel, equivalent to 1.63%, to 67.64 USD/barrel; WTI oil decreased by 1.13 USD/barrel, equivalent to 1.7%, to 65.16 USD/barrel.

Both oil benchmarks fell to their lowest prices in five weeks.

The increase in production by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) is putting pressure on oil prices. In addition, US service sector activities unexpectedly slowed in July, with the number of orders unchanged and the labor market no longer as vibrant as before, while input costs increased the most in nearly 3 years. Reuters said that this situation shows that businesses are being affected by the tax policy of President Donald Trump's administration.

Gasoline prices may increase again from tomorrow afternoon. PHOTO: NHAT THINH

According to analysts, the market today is watching for information on whether India and China will cut crude oil purchases from Russia to find alternative sources. Reuters reported that US President Donald Trump continued to threaten higher tariffs on Indian goods because the country still buys oil from Russia. Mr. Trump also said that falling energy prices could pressure Russian President Vladimir Putin to end the conflict in Ukraine. In response, India said this threat was unreasonable and pledged to protect India's economic interests.

Meanwhile, the reference price of finished petroleum products on the Singapore market increased last week. Some key enterprises forecast that in the management session tomorrow afternoon (August 7), domestic gasoline prices may increase slightly by less than 300 VND/liter, and diesel prices may decrease by nearly 250 VND/liter. This forecast does not include the Price Stabilization Fund.

The Vietnam Petroleum Institute (VPI) also predicted that gasoline prices will increase and oil prices will decrease. Notably, VPI forecasted that the retail price of E5 RON92 gasoline could increase by VND584 (3%) to VND19,984/liter, and RON 95-III gasoline could increase by VND601 (3%) to VND20,441/liter.

If this is true, domestic gasoline prices have increased for the second consecutive session. Since the beginning of the year, domestic gasoline prices have been adjusted 30 times, of which 12 decreased, 13 increased and 5 were in the opposite direction.

Since August 1, E10 biofuel has been sold in some cities at VND19,600/liter, lower than RON95 gasoline and higher than E5 RON92 gasoline. It is expected that in the near future, E10 gasoline will be sold in some provinces and cities in the Central region./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-672025-the-gioi-giam-manh-xang-trong-nuoc-van-tang-185250806083034791.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-06-8-the-gioi-giam-manh-xang-trong-nuoc-van-tang-a200191.html