Dan Viet’s latest update, 11/1 gasoline price in the world at 6:54 a.m. (Vietnam time), specifically as follows:
WTI crude oil price decreased to 71,227 USD/barrel, equivalent to a decrease of 1.40%; Brent oil price decreased to 76,567 USD/barrel, equivalent to a decrease of 1.32% compared to the previous trading session. Compared to the same period last year, WTI crude oil prices decreased by 8.56%, Brent oil prices decreased by 7.58%.
Information about gasoline prices on January 11. Tradingeconomics photo.
Gasoline prices today, January 11, around the world dropped sharply. Tradingeconomics photo.
WTI crude oil price is trading at 71 USD/barrel, after suddenly increasing nearly 6% over the previous month. The reason is because investors review the latest EIA report and are concerned about protests in Libya and escalating tensions in the Middle East.
According to government data, weekly crude oil inventories fell more than expected, along with a decrease in demand with total products supplied to refineries falling by 2.356 million barrels. Additionally, crude oil inventories at the Cushing, Oklahoma distribution center increased, while gasoline inventories increased unexpectedly.
Wednesday saw oil prices rise more than 3% as production in Libya was disrupted as protesters halted production from the Sharara and El-Feel fields, which together contribute about 365,000 barrels per day. Iran faced tragedy with two explosions at a ceremony honoring the late commander Qassem Soleimani, killing nearly 100 people and injuring countless others. OPEC+ expressed its commitment to ensuring market stability in a statement on its website.
Gasoline prices today January 11 in the country
In the latest gasoline price adjustment by the Ministry of Industry and Trade – the Ministry of Finance, the first decrease of the new year 2024 was recorded. At this time, domestic gasoline prices are still trading at the following specific levels:
In the first adjustment in 2024, petroleum products all decreased simultaneously, a positive signal for the domestic market. The executive agency announced that it will continue not to allocate the BOG Fund for gasoline, diesel and kerosene products, and to allocate the BOG Fund for oil products.
Recently, many other developments related to the petroleum market have attracted users’ attention. In particular, the Prime Minister and the Ministry of Industry and Trade have continuously issued hot directions related to the management and supply of petroleum in the market.
Accordingly, in the dispatched telegram, Prime Minister Pham Minh Chinh requested ministries, localities and petroleum enterprises to request solutions, absolutely not allowing gasoline shortages or breakdowns to occur. oil during the New Year 2024, before, during and after the Lunar New Year Giap Thin 2024.
Implementing the direction, immediately on January 3, Minister of Industry and Trade Nguyen Hong Dien issued a directive on the management and supply of petroleum, assigning it to units under the ministry, petroleum focal points, Request unexpected inspections and checks on the supply and export of petroleum.
Ministers and leaders of ministries, departments and agencies of the Ministry of Industry and Trade, relevant ministries and branches have met with key businesses, petroleum suppliers and petroleum associations to discuss solutions to increase total sources, assigning petroleum supply in 2024 due to concerns that the disruption and gasoline shortage in 2023 may reappear in 2024.
Gasoline prices today, January 11, in the country decreased. Photo by Khai Pham.
According to Vietnam Petroleum Group – Petrolimex, for areas far from ports, far from wholesale warehouses, far from petroleum production facilities as prescribed in Clause 27, Article 1, Decree 95/2021/ND-CP dated November 1, 2021 of the Government (Petrolimex referred to as “Region 2”); The General Director of Petrolimex empowers the Directors of Petrolimex member petroleum companies to directly decide the actual selling price in the business area but must not exceed the price level of region 2 mentioned above.
The adjustment gasoline prices This time, it is implemented according to Resolution No. 30/2022/UBTVQH15 on environmental protection tax rates for gasoline, oil, and lubricants, effective from January 1, 2023 to December 31, 2023 and comes from practice. Price movements of finished petroleum products on the world market during the price calculation cycle, in accordance with the principles of determining selling prices in Decree No. 80/2023/ND-CP dated November 17, 2023 of the Government (Decree 80) on amending and supplementing a number of articles of Decree No. 95/2021/ND-CP dated November 1, 2021 and Decree No. 83/2014/ND-CP dated September 3, 2014 of the Government on gasoline business oil; according to the implementation guidance documents of the Ministry of Industry, Trade and Finance.
Petrolimex member units, when issuing gasoline retail price decisions on their distribution system, must send the issued price decisions to the Department of Industry and Trade of the province/city and the Group for reporting.
