Domestic gasoline prices today February 12, 2024

In the domestic market, the selling price of gasoline and oil today, February 12, is applied according to the price level at the management session on the afternoon of February 8 of the Ministry of Finance - Industry and Trade.

Accordingly, retail prices of gasoline and oil have been adjusted down. Notably, the price of RON 95 gasoline has dropped sharply, to 23,000 VND/liter.

Specifically, the price of E5 gasoline dropped to 22,120 VND/liter. The price of RON 95 gasoline dropped to 23,260 VND/liter.

Diesel price dropped to 20,700 VND/liter. Kerosene retail price dropped to 20,580 VND/liter.

Retail price of gasoline today:

Item Price from February 8 (unit: VND/liter) Compared to the previous period
RON 95-III gasoline 23,260 - 900
E5 RON 92-II gasoline 22,120 - 790
Diesel 20,700 - 290
Oil 20,580 - 340

World oil prices today February 12, 2024

In the world market, gasoline prices today, February 12, slightly decreased after increasing sharply last week.

According to data from Oilprice, at 9:31 a.m. on February 12 (Vietnam time), Brent oil price was trading at 81.82 USD/barrel, down 0.37 USD, equivalent to 0.45% compared to the previous session. Meanwhile, WTI oil price was at 76.45 USD/barrel, down 0.39 USD, equivalent to 0.51% compared to the previous session.

Last week, world oil prices reversed sharply after falling sharply the week before.

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Gasoline prices tend to increase (Photo: Reuters)

World oil prices increased in all trading sessions last week. The tense conflict situation in the Middle East was the main factor pushing oil prices up sharply last week.

Oil prices rose nearly 1% in the first trading session of the week on concerns that tensions in the Middle East were escalating and that Russia's military campaign in Ukraine could limit global supplies.

Oil prices continued to rise slightly in the second trading session. Oil prices increased after the US Department of Energy said crude oil production would increase less than forecast. Limiting the increase of oil prices in the session was data from the American Petroleum Institute showing that the country's crude oil inventories increased by only 674,000 barrels in the week to February 2, much lower than the increase of about 2.1 million barrels predicted by analysts.

Oil prices rose nearly 1% on Tuesday, supported by a larger-than-expected drop in U.S. fuel inventories and continued tensions in the Middle East.

Oil prices continued to rise in the fourth trading session of the week. In this session, oil prices increased by more than 3%.

Oil prices rose on fears of a wider conflict in the Middle East after Israeli Prime Minister Benjamin Netanyahu rejected a ceasefire offer from Hamas and the release of hostages held in the Gaza Strip. Israeli forces even bombed the southern Gaza border city of Rafah after Prime Minister Benjamin Netanyahu rejected a proposal to end the hostilities.

Oil prices rose by nearly 1% in the final trading session of the week. Concerns about supply from the Middle East after Israel resumed airstrikes on the Gaza Strip continued to support the rise in oil prices in this trading session.

Overall, last week, world oil prices increased by more than 6%, reversing the sharp decline of the previous week.

Closing last week, Brent oil price was fixed at 82.19 USD/barrel while WTI oil price ended the week at 76.84 USD/barrel.

Oil prices today, February 10, 2024, continue to rise. Oil prices today, February 10, 2024, on the international market continue to rise, towards the mark of 82 USD/barrel. Oil prices increased due to receiving many supporting factors.