Gasoline price today November 24: World oil price increased sharply, week increased 6%

World oil prices

At 6:00 a.m. on November 24, Brent oil price was at 75.28 USD/barrel, up 1.27%, equivalent to an increase of 0.94 USD/barrel. WTI oil price was at 71.18 USD/barrel, up 1.63%, equivalent to an increase of 1.14 USD/barrel.

At the end of yesterday's trading session, oil prices increased by about 1%, reaching a two-week high.

Both benchmark oil prices rose about 6% for the week, their biggest weekly gains since November 7.

Oil prices rose as Moscow stepped up its offensive into Ukraine after Britain and the United States allowed Kiev to use its missiles to strike deeper into Russian territory.

“The escalation between Russia and Ukraine has raised geopolitical tensions far beyond levels seen during the year-long conflict between Israel and Iran-backed militants,” said Saxo Bank analyst Ole Hansen.

PVM analyst John Evans said that what the market fears is the destruction of any oil and gas facilities and refineries, as this would not only cause long-term damage but also accelerate the spiral of conflict.

World oil prices continue to increase today. (Illustration: iStock).

In a new move, the United States has imposed new sanctions on Russia's Gazprom bank. The Kremlin said the new US sanctions were an attempt by Washington to hinder Russian gas exports.

On the demand side, China, the world’s largest oil importer, announced policy measures this week to boost trade, including supporting energy imports, amid concerns the US will impose high tariffs on imports from China.

China's crude oil imports in November are expected to recover, according to analysts, traders and ship-tracking data.

Domestic gasoline prices

In the operating period on November 21, the price of E5 gasoline decreased by 109 VND/liter, not higher than 19,343 VND/liter. The price of RON95 gasoline decreased by 79 VND/liter, not higher than 20,528 VND/liter.

Diesel price decreased by 64 VND/liter, down to 18,509 VND/liter. Kerosene price decreased by 67 VND/liter, down to 18,921 VND/liter. Fuel oil price increased by 5 VND/kg, not higher than 16,014 VND/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance continues not to set aside or use the petroleum price stabilization fund for any products.

Thus, from the beginning of 2024 up to now, domestic gasoline prices have gone through 46 adjustment sessions, including 23 decrease sessions, 18 increase sessions and 6 mixed increase and decrease sessions.

PHAM DUY

Source: https://vtcnews.vn/gasoline-price-hom-nay-24-11-gasoline-price-the-gioi-tang-manh-tuan-bat-tang-6-ar909261.html