Up more than 1% over the past week

Oil prices today December 30, 2024: This week, oil prices turned up, supported by news related to China and US oil inventories.

Gasoline price today December 30, 2024

Recorded on Oilprice at 5:00 a.m. on December 30, 2024 (Vietnam time), WTI oil price was at 70.26 USD/barrel, up 1.41% (equivalent to an increase of 0.98 USD/barrel).

WTI oil price on the world market in the early morning of December 30, 2024 (Vietnam time)

Similarly, Brent oil price was at 74.0 USD/barrel, up 1.24% (equivalent to an increase of 0.91 USD/barrel).

Brent oil price on the world market in the early morning of December 30, 2024 (Vietnam time)

Last week, the global oil market witnessed a price recovery after a volatile week. Although the week started in the red due to concerns about oversupply in 2025 and a stronger US dollar, oil prices quickly regained momentum in the second session thanks to news that China issued a large amount of special treasury bonds.

However, the gains stalled on Tuesday as US markets closed for a holiday. A stronger US dollar put downward pressure on prices on Wednesday, but data from the API showing a decline in US crude inventories limited the decline. Oil prices ended the week up more than 1% as the US Energy Information Administration (EIA) reported a larger-than-expected drawdown in inventories, along with expectations of increased demand from China after the World Bank raised its economic growth forecast. As a result, WTI and Brent crude oil prices rose about 1.4% for the week, marking a weekly gain after a week of declines.

In addition, the oil market is also affected by the decision of OPEC+ to extend production cuts, the adjustment of the demand outlook of the International Energy Agency (IEA), and OPEC's continuous reduction of demand growth forecast. Increasing supply from non-OPEC+ countries and slowing demand, especially from China, also create challenges for the oil market in the coming year.

In summary, the oil market last week had a complicated development with alternating increases and decreases, driven by many different factors, and although the week ended with a slight increase, the market still faces many challenges in terms of supply and demand next year.

Domestic retail gasoline prices on December 30, 2024 will be applied according to the adjustment session from 3:00 p.m. on December 26 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	19,817	-427
RON 95 gasoline	20,547	-457
Diesel	18,630	-103
Oil	18,708	-260
Fuel oil	15,970	+67

Specifically, the price of E5 RON 92 gasoline decreased by VND427/liter, down to VND19,817/liter; RON 95 gasoline decreased by VND457/liter, down to VND20,547/liter.

Price of 0.05S diesel: Decreased by 103 VND/liter, down to 18,630 VND/liter; Kerosene decreased by 260 VND/liter, down to 18,708 VND/liter. Particularly, price of 180CST 3.5S fuel oil increased by 67 VND/kg, at 15,970 VND/kg.

Gasoline prices today December 30, 2024. Photo by Dinh Tuan

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

Thus, from the beginning of 2024 up to now, domestic gasoline prices have undergone 51 adjustment sessions, including 24 decrease sessions, 20 increase sessions and 8 opposite sessions.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-30122024-tang-hon-1-trong-tuan-qua-366894.html