Gasoline prices today, September 15, in the world have recorded an unprecedented increase since August 2022, this heavily affects domestic gasoline prices when import prices cannot be reduced.
According to Dan Viet’s update, gasoline prices today September 15 in the world at 6:50 a.m. (Vietnam time), specifically as follows:
WTI crude oil price increased from 88,815 USD/barrel to 90,641 USD/barrel, equivalent to 2.40%, Brent oil price increased from 92,156 USD/barrel to 94,036 USD, equivalent to an increase of 2.35% compared to the previous trading session. .
Gasoline prices today, September 15, around the world increased “shockingly”. Tradingeconomics photo.
World oil prices continued to increase dramatically when WTI crude oil increased to 90 USD/barrel, especially Brent crude oil price set a new peak of 94 USD/barrel, the highest since August 2022.
The reason for the increase in oil prices in the global market is due to further tightening in the coming months. The International Energy Agency said on Wednesday that prolonged supply cuts by Saudi Arabia and Russia would mean a significant market deficit in the fourth quarter, while maintaining its demand growth estimate. demand for 2023 and 2024.
The report came a day after OPEC said it expected a large production shortfall of 3.3 million barrels per day in the fourth quarter, while the US EIA forecast a smaller deficit of 230,000 barrels in the same period. . Meanwhile, official data showed that US crude oil inventories increased by 4 million barrels last week, despite predictions of a decrease of 1.9 million barrels.
According to Bank of America analysts, continued supply cuts mentioned above could push Brent oil futures prices above 100 USD/barrel by the end of this year.
According to a report from the US Department of Labor, in August, the US consumer price index (CPI) increased by 0.6% and increased by 3.7% over the same period last year. However, core CPI increased 0.3% in August and 4.3% year-on-year. In July, core CPI increased by 0.2% and increased by 4.7% over the same period in 2022. Although core CPI increased, it is highly likely that the Fed will keep interest rates unchanged at the meeting next week.
Today, the European Central Bank will announce its decision regarding interest rates. Analysts expect interest rates to continue to rise.
Experts forecast that world crude oil demand growth in the fourth quarter of the IEA has been revised down by 600,000 barrels/day. Previously, OPEC had maintained its forecast of strong growth in global oil demand in 2023 and 2024.
Domestic gasoline prices today, September 15: Stable after increasing
After being adjusted to increase by the Ministry of Industry, Trade and Finance, domestic gasoline prices are specifically as follows:
| Fuel type |
Old price (VND/Liter) |
New price (VND/Liter) |
|---|---|---|
|
RON E5 92 |
23.470 |
23.470 |
|
RON 95 |
24.870 |
24.870 |
|
Diesel oil |
22.640 |
23.055 |
|
Fuel |
22.810 |
23.188 |
|
Fuel oil |
17,700 VND/kg |
17,704 VND/kg |
Thus, domestic gasoline prices, after 6 consecutive increases, have remained unchanged in this adjustment, while oil prices have increased for the 7th consecutive time in the most recent adjustments of the Ministry of Industry, Trade and Finance.
During this oil price adjustment, the Gasoline Price Stabilization Fund continued not to discharge and remained stationary, so this was the main reason for the increase in oil prices.
According to a report from the Ministry of Finance, the balance of the Petroleum Price Stabilization Fund currently reaches more than 7,400 billion VND. From the beginning of the year until now, petroleum has gone through more than 26 periodic adjustments by the Ministry of Industry and Trade – Ministry of Finance, including 15 upward adjustments and 7 downward adjustments, more than 3 times remaining the same. Meanwhile, there has never been a time when the Price Stabilization Fund released its funds to reduce the increase in gasoline prices.
Domestic gasoline prices today, September 15, remain unchanged. PLVN photo.
Meanwhile, the average price of finished gasoline in the Singapore market tends to increase slightly compared to the previous period, but the increase is not significant. World crude oil prices have increased for 2 consecutive weeks, reaching the highest mark since November 2022 when trading at 90 USD/barrel.
Previously, on September 5, gasoline prices were adjusted by the Ministry of Industry and Trade and the Ministry of Finance to increase slightly, E5 RON 92 gasoline increased by more than 132 VND, retail price was more than 23,470 VND/liter; RON 95 gasoline, increased by more than 270 VND, retail price is more than 24,870 VND/liter.
Oil types had slight fluctuations, of which diesel oil increased by more than 290 VND/liter, retail price was more than 22,640 VND/liter; Kerosene increased by more than 505 VND/liter, retail price more than 22,810 VND/liter; Mazut oil decreased by more than 277 VND/liter, retail price recorded more than 17,700 VND/liter.
Thus, as of September 5, gasoline prices have had 6 consecutive price increases since the adjustment on July 21, the price of E5 RON 92 gasoline increased by more than 3,059 VND/liter, the price of RON 95 gasoline increased by more than 3,378 VND. / liter.
Many factors affect gasoline prices today, September 15
It is known that every day, people contribute more than 20 billion VND to the BOG Fund, but the Fund only releases 65 million VND to stabilize prices. Meanwhile, the amount of expenditure on the Petroleum Price Stabilization Fund (BOG) in the second quarter (April to the end of the month) 6/2023) is just over 5.9 billion VND, while the amount allocated to the BOG Fund has reached nearly 1,800 billion VND.
The amount allocated to the BOG Fund is more than 300 times higher than the amount spent by this Fund to stabilize gasoline prices in the second quarter. The amount of interest arising on the positive BOG Fund balance in the second quarter is more than 3.23 billion VND, the amount of interest arising on the negative BOG Fund balance in the second quarter is equivalent to 2.09 billion VND.
On average in the second quarter, each day the amount of money deducted from the BOG Fund when people buy gasoline was more than 20 billion VND, while the amount of money this fund spent to reduce the impact of increasing gasoline prices was only 65 million VND/day.
However, the statistics are sad when in the second quarter of 2023, gasoline prices increased 4 times (in the adjustment periods of April 3, April 11, May 22 and June 1), once decreased (April 21) and once remained unchanged on June 12).
The Ministry of Finance said that currently Vietnam Petroleum Group (Petrolimex) has the largest petroleum BOG fund balance with nearly 3,200 billion VND; The second is Hai Ha Water Transport Company Limited with more than 612 billion VND; Thien Minh Duc Group Joint Stock Company is holding a fund balance of more than 468 billion VND; Dong Thap Petroleum Trading Joint Stock Company holds more than 454 billion VND;…
In particular, Xuyen Viet Oil Transport and Tourism Trading Company Limited, an enterprise that has just been prosecuted by the police, arrested a series of company leaders who still held more than 219 billion VND of BOG Fund money.
Specifically, according to Mr. Pham Van Binh – Deputy Director of Price Management Department, Ministry of Finance, as of September 10, Xuyen Viet Oil has not reported on the return of the above amount, although the Ministry of Finance has issued two documents. copy, call to urge.
Currently, the Ministry of Industry and Trade has also sent a document to the Ministry of Finance to coordinate handling according to regulations. Decree 95 on petroleum business stipulates that the Petroleum Stabilization Fund is established at the enterprise when a business license is granted to the focal enterprise.
