Gasoline price today December 9: Continue to decrease

World oil prices

At 6:00 a.m. on December 9, Brent crude oil price decreased by 0.07 USD, equivalent to 0.1%, to 71.05 USD/barrel. WTI crude oil price decreased by 0.06 USD, equivalent to 0.09%, to 67.14 USD/barrel.

At the meeting on December 5, OPEC+ said it would gradually lift the 2.2 million barrel/day cut from April 2025 with a monthly increase of 138,000 barrels/day, lasting for 18 months until September 2026.

The market is facing an oil glut, said Bob Yawger, director of energy futures at Mizuho.

In addition, Reuters reported that Israel continued to attack Hezbollah, ignoring the ceasefire agreement that took effect on November 27. According to UBS analyst Giovanni Staunovo, the risk to the ceasefire has caused some oil traders to increase concerns about tensions in the Middle East.

The conflict in Lebanon has not yet caused any disruption to oil supplies, but traders will still closely monitor tensions between Iran and Israel in the coming months.

Oil prices continue to fall. (Photo: Punchg).

Last week, a report from the US Energy Information Administration showed that while US oil inventories fell by 5.1 million barrels as refineries increased operations, US gasoline and distillate inventories increased by 2.4 million barrels and 3.4 million barrels, respectively.

Regarding the OPEC+ decision, Oilprice said that it was due to the high supply outside OPEC+ and low demand from China. However, Bank of America expects oil demand to recover to 1 million barrels/day next year.

Domestic gasoline prices

In the operating period on December 5, the price of E5 RON92 gasoline increased by 24 VND/liter, not higher than 19,864 VND/liter. The price of RON95 gasoline decreased by 294 VND/liter, not higher than 20,563 VND/liter.

Meanwhile, diesel price decreased by 395 VND/liter, not higher than 18,382 VND/liter. Kerosene price decreased by 325 VND/liter, not higher than 18,817 VND/liter. Fuel oil price remained at 16,125 VND/kg as in the previous period.

In this period, the executive agency continues not to set aside or use the gasoline price stabilization fund for all products.

Ngoc Vy

Source: https://vtcnews.vn/gasoline-price-to-date-12-12-tiep-tuc-di-xuong-ar912335.html