Gasoline price today (October 13): Reversal and slight increase

Oil prices are likely to fluctuate wildly this week following President Donald Trump’s threat to impose steep tariffs on Chinese goods. Domestically, gasoline prices have been adjusted downwards across the board.

World oil prices

Last week, world oil prices recorded volatility after US President Donald Trump posted a message threatening to sharply increase tariffs on imported goods from China. This move made investors fear that the trade war between the world's two largest economies could weaken global oil demand.

According to Oilprice, at 5:15 a.m. on October 13 (Vietnam time), Brent oil price increased by 0.82 USD/barrel, equivalent to 1.31%, to 63.55 USD/barrel; WTI oil price increased by 0.77 USD/barrel, equivalent to 1.31%, to 59.67 USD/barrel.

Petrol prices continue to fluctuate unpredictably. Illustration: The Hindu Business

The situation became more complicated when President Trump accused China of “holding the global economy hostage” after Beijing expanded controls on exports of rare earths, essential materials in the technology industry.

Mr. Trump also said he might cancel a meeting with President Xi Jinping scheduled to take place in South Korea and sharply increase import tariffs on China.

Meanwhile, investors are also concerned about the possibility of a prolonged US government shutdown due to budget disagreements, which could slow the economy and reduce energy demand in the world's largest oil importer.

In addition to trade tensions, oil prices are also under pressure from growing supply. OPEC and its allies (OPEC+) are gradually easing production cuts, while the US and South American countries continue to expand production.

OPEC's decision not to increase production too much in November helped ease concerns about oversupply, but it was not enough to reverse the current downward price trend, according to analysts from ANZ bank.

In addition, the ceasefire agreement between Israel and Hamas in Gaza also reduces geopolitical risks, reducing the motivation to keep oil prices high. Many experts say that with abundant supply again, the market may soon face a surplus of oil in the coming months.

Domestic gasoline prices

Domestic retail prices of gasoline on October 13, specifically 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/gasoline-price-hom-nay-13-10-dao-chieu-tang-nhe-5061671.html