Gasoline price today 9/9: World oil price bounces back

Brent and WTI oil prices recovered after a sharp decline last week. Today's domestic gasoline prices still apply the adjustment from September 4.

World oil prices rebound

On the morning of September 9, the international oil market recorded a recovery after many consecutive declines. On the Oilprice floor at 4:30 a.m. (Vietnam time), Brent oil price reached 65.98 USD/barrel, up 0.75% or 0.49 USD/barrel. WTI oil also increased 0.61%, to 62.21 USD/barrel.

The main reason is the new decision of OPEC+ to increase production from October but at a rather modest level, lower than analysts' predictions. The increase is only about 137,000 barrels/day, compared to more than 500,000 barrels/day in previous months. Part of this output has actually been released to the market when many countries produced more than their quotas.

In addition, concerns that the US may impose additional sanctions on Russian crude oil continue to put pressure on supply. US President Donald Trump said Washington is ready to move to the second phase of imposing sanctions, targeting both Moscow and countries that buy oil from Russia. If implemented, the global flow of oil could be disrupted, causing oil prices to fluctuate more strongly.

Domestic gasoline prices

During the operating period from 3:00 p.m. on September 4, the Ministry of Industry and Trade and the Ministry of Finance announced new retail prices for gasoline. E5 RON92 gasoline increased by 80 VND/liter, to 19,851 VND/liter. RON95-III gasoline increased by 76 VND/liter, reaching 20,439 VND/liter.

Oil products also increased simultaneously: diesel 0.05S to 18,473 VND/liter, kerosene reached 18,314 VND/liter, and mazut 180CST 3.5S at 15,376 VND/kg.

In this operating period, the management agency continued not to set aside and not spend the Petroleum Price Stabilization Fund. The Ministry of Industry and Trade said that the world petroleum product prices in the reference period increased slightly from 0.5% to 1%, which is the basis for adjusting domestic retail prices.

Source: https://baodanang.vn/gia-xang-dau-hom-nay-9-9-gia-dau-the-gioi-bat-tang-tro-lai-3301391.html