Gasoline price today November 12: Continue to decrease

World oil prices

At 6:00 a.m. on November 12, WTI oil price decreased by 2.34 USD, equivalent to 3.32%, to 68.04 USD/barrel. Brent oil price decreased by 1.98 USD, equivalent to 2.68%, to 71.89 USD/barrel.

Oil prices fell as China's economic growth slowed after plans to launch economic stimulus disappointed investors.

In China, consumer prices rose at their slowest pace in four months in October while producer price deflation deepened, data released on Saturday showed, even as Beijing doubled stimulus measures to support the sluggish economy.

Oil prices go down. (Photo: Punchg).

" China's inflation numbers weakened again as markets worried about deflation, especially as the annual change in the producer price index continued to fall into negative territory... China's economic momentum remains negative ," said Achilleas Georgolopoulos, market analyst at brokerage XM.

In addition, Phil Flynn, senior analyst at Price Futures Group, said Donald Trump's victory in the US election could continue to affect the market.

A stronger US dollar makes dollar-denominated commodities, such as oil, more expensive for holders of other currencies and tends to put pressure on prices.

Domestic gasoline prices

In the operating period on November 7, the price of E5 RON92 gasoline increased by 336 VND/liter, not higher than 19,744 VND/liter; the price of RON95 gasoline increased by 351 VND/liter, not higher than 20,854 VND/liter.

Meanwhile, the prices of many types of oil also increased: diesel price increased by 769 VND/liter, up to 18,917 VND/liter; kerosene price increased by 461 VND/liter, up to 19,294 VND/liter. In contrast, fuel oil price decreased by 67 VND/kg, not higher than 16,394 VND/kg.

In this period, the executive agency continues not to set aside or use the gasoline price stabilization fund for any products.

Ngoc Vy

Source: https://vtcnews.vn/gasoline-price-to-now-12-11-tiep-tuc-di-xuong-ar906861.html