Gasoline price today April 7: Still increasing

World oil prices

At 6:00 a.m. on April 7, Brent oil price was trading at 90.86 USD/barrel, up 0.57% (equivalent to an increase of 0.52 USD/barrel), while WTI oil price was at 86.73 USD/barrel, up 0.37% (equivalent to an increase of 0.32 USD/barrel).

Oil prices continued to rise due to the impact of increased geopolitical tensions in the Middle East.

Tensions in the Middle East are at risk of escalating, after it was reported that Israeli embassies around the world were on high alert due to the conflict with Iran.

World oil prices have not stopped rising. (Illustration photo: Minh Duc).

According to Reuters, the recent increase in oil prices also comes from the cut in fuel supplies from Russia, after the country's oil refineries were repeatedly targeted by drone attacks.

Oil prices rose in part on news that Mexico's state-owned energy company Pemex had asked its trading unit to cancel exports of up to 436,000 barrels per day this month.

Domestic gasoline prices

From 3:00 p.m. on April 4, diesel oil was adjusted to 20,980 VND/liter, an increase of 290 VND/liter; kerosene has a new price of 21,010 VND/liter, after an increase of 140 VND/liter; mazut oil increased by 150 VND, to 17,290 VND/kg.

In this operating period, the operating agency decided to set aside a price stabilization fund for fuel oil at 300 VND/kg (as in the previous period), and not set aside a fund for gasoline, diesel and kerosene.

At the same time, do not use the fund for all petroleum products.

According to the explanation of the Ministry of Industry and Trade , the above changes in domestic gasoline prices are due to the influence of factors such as: OPEC+'s policy of cutting crude oil production, signs of increasing tension in the Middle East, and continued military activities by Ukraine targeting Russia's oil refining infrastructure...

The above factors have caused world oil prices in recent days to fluctuate between increases and decreases depending on the product, but the general trend is upward.

Thus, since the beginning of the year, the regulatory agency has made 14 adjustments to gasoline prices, including 9 periods of simultaneous increases, 4 periods of price decreases, and 1 period of gasoline price reduction and oil price increase.

PHAM DUY

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