Gasoline price today (October 11): Lowest level in the past 5 months

World oil prices

World oil prices fell sharply in Friday trading session, after US President Donald Trump threatened to impose higher tariffs on Chinese goods, raising concerns about oil demand in the context of an already oversupplied market.

“A sell-off is being fueled by risk aversion after President Donald Trump unexpectedly threatened to sharply increase tariffs on Chinese goods,” said Giovanni Staunovo, an analyst at UBS.

According to Reuters, at the end of the trading session on October 10, Brent oil price decreased by 2.49 USD/barrel, equivalent to 3.82%, to 62.73 USD/barrel - the lowest level since May 5. Meanwhile, WTI oil price decreased by 2.61 USD/barrel, equivalent to 4.24%, to 58.90 USD/barrel - the lowest level since early May.

World oil prices fell sharply in the trading session on October 10. Illustration photo: Reuters

“This development is the result of many factors, of which Mr. Trump's threat to sharply increase tariffs on Chinese goods is just the latest factor,” said Mr. Andrew Lipow, President of consulting firm Lipow Oil Associates.

According to Mr. Andrew Lipow, OPEC+ increased production, additional supply from North and South America, and reduced geopolitical risks after the ceasefire agreement in Gaza "are all factors that resonate with US President Donald Trump's recent announcement on tariffs on Chinese goods."

In a post on the social network Truth Social on October 10, Mr. Trump said the US was calculating a "huge" tax increase on imported goods from China if the country controlled rare earth exports.

At the same time, the US President also declared that there was "no reason" to meet Chinese President Xi Jinping in South Korea in the next two weeks as originally planned.

Meanwhile, Israel and the Hamas movement have signed a ceasefire agreement in Gaza, marking the first step in US President Donald Trump's efforts to end the conflict in the region.

Under the agreement, the two sides will stop fighting. Israel will partially withdraw its forces from Gaza. Hamas will release all surviving hostages in exchange for Israel releasing hundreds of Palestinian prisoners.

Domestic gasoline prices

Domestic retail prices of gasoline on October 11 are as follows:

- E5RON92 gasoline: No higher than 19,138 VND/liter
- RON95-III gasoline: No higher than VND 19,729/liter
- Diesel 0.05S: Not higher than 18,604 VND/liter
- Kerosene: Not higher than 18,434 VND/liter
- Mazut oil 180 CST 3.5S: Not higher than 14,808 VND/kg

The Ministry of Industry and Trade and the Ministry of Finance have just decided on retail prices of gasoline and oil from 3 p.m. on October 9. Accordingly, gasoline and oil prices have decreased simultaneously. Specifically, the price of E5RON92 gasoline decreased by 486 VND/liter, RON95-III gasoline decreased by 480 VND/liter, diesel oil decreased by 434 VND/liter, kerosene decreased by 571 VND/liter and mazut oil decreased by 562 VND/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-11-10-muc-thap-nhat-trong-5-thang-qua-5061519.html