Domestic gasoline prices today July 4, 2024

In the domestic market, retail prices of petroleum products this afternoon (July 4) will be applied according to the new price level.

Leaders of some petroleum companies predict that domestic petroleum prices at this afternoon's management session may be adjusted upward.

Oil companies predict that if the regulatory agency does not affect the Oil Price Stabilization Fund, domestic gasoline prices could increase by 320-400 VND/liter. Oil prices are expected to increase by 250-370 VND/liter, depending on the type.

In case the Ministry of Finance and Industry and Trade spend the Stabilization Fund, the gasoline price is likely to increase less.

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Gasoline prices may be adjusted up. Photo: Nguyen Hue

In the most recent petrol price adjustment period (June 27), petrol prices were jointly adjusted by the Ministry of Industry and Trade - Ministry of Finance to increase all items.

Specifically, the price of E5 gasoline increased by 510 VND/liter, the selling price is 22,010 VND/liter. The price of RON 95 gasoline increased by 550 VND, the selling price is 23,010 VND/liter.

Similarly, diesel price was also adjusted up by 320 VND/liter, selling price at 20,680 VND/liter. Kerosene price increased by 260 VND/liter, selling price up to 20,610 VND/liter.

World oil prices today July 4, 2024

In the world market, gasoline prices today, July 4, increased following the previous session.

Trading session 3/7, gasoline prices recovered after a slight decrease in the previous session.

According to data from Oilprice, at 7 p.m. on July 3 (Vietnam time), Brent oil price was listed at $86.35/barrel, up 0.15% compared to the previous session. WTI oil price was at $82.86/barrel, up 0.06% compared to the previous session.

World oil prices rose after data showed US crude oil reserves fell more than expected.

A report from the American Petroleum Institute showed that in the week ending June 28, the country's oil inventories unexpectedly fell by 9.163 million barrels, much higher than analysts' predictions of only a 150,000-barrel decrease.

In contrast to oil, US gasoline inventories maintained their upward momentum last week, increasing by 2.468 million barrels. US distillate inventories fell by only 740,009 barrels.

Meanwhile, gasoline demand in the US is expected to increase sharply as summer travel increases with the US Independence Day holiday.

The American Automobile Association (AAA) predicts that US gasoline demand will peak this week due to the demand for travel during the Independence Day holiday. AAA said that US travel during the Independence Day holiday will increase 5.2% compared to 2023.

Gasoline prices today, June 28, 2024, increased sharply, exceeding 86 USD/barrel . Gasoline prices today, June 28, 2024, increased sharply on the international market, exceeding 86 USD/barrel. In the domestic market, gasoline prices were adjusted up since yesterday afternoon.