Gasoline price today August 11: Domestic gasoline is about to have a sharp decrease?

World oil prices continued to decline in the first trading session of the week, leading to forecasts of a sharp drop in domestic gasoline prices amid global market fluctuations.

On the morning of August 11, at 7:40 a.m. (Vietnam time), gasoline prices fell by nearly 1%. Accordingly, global benchmark Brent crude oil was trading at 66 USD/barrel; US WTI crude oil was trading at 63.3 USD/barrel.

Thus, the downward trend of world oil prices has not ended after losing 4.4 - 5.5% since last week.

According to Reuters, US President Donald Trump has suddenly imposed an additional 25% tax on goods imported from India as a move to punish the country for continuing to buy oil from Russia. At the same time, the US also hinted that China - Russia's largest oil customer - could be subject to a similar tax.

World oil prices continued to decline in the first morning of the week (PHOTO: REUTERS)

The tariffs continue to fuel concerns about a global economic slowdown, pushing demand for crude oil lower. China and India are the world’s two largest crude oil importers.

In addition, the continued increase in production by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) also put pressure on oil prices.

According to Reuters, this week, the market's focus will continue to be on US trade negotiations and risks related to Russian supply. If US President Donald Trump does not impose tougher sanctions on Russia, oil prices may fall further as the market turns its attention to the risk of oversupply. Analysts predict that world oil prices will continue to be under downward pressure this week, despite supportive factors such as falling inventories and high summer gasoline demand.

Given the developments in the world market, some domestic petroleum businesses predict that the price of petroleum in this week's management period (August 14) may decrease sharply. The decrease does not include the Petroleum Price Stabilization Fund, about 500 - 800 VND/liter, updated to this morning (August 11)./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1182025-xang-trong-nuoc-sap-co-dot-giam-manh-18525081108125708.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-11-8-xang-trong-nuoc-sap-co-dot-giam-manh-a200444.html