Gasoline prices today November 21, 2023 increased rapidly due to supply concerns


Domestic gasoline prices today November 21, 2023

In the domestic market, the selling prices of gasoline today, November 21, are applied according to the prices of the operating session on the afternoon of November 13. Gasoline prices are adjusted downward.

Specifically, the price of E5 gasoline dropped to 22,270 VND/liter. RON 95 gasoline price decreased to 23,530 VND/liter.

While the price of diesel dropped to 20,880 VND/liter and the price of kerosene dropped to 21,510 VND/liter.

Retail price of gasoline today:

Items Price from November 13 (unit: VND/liter) Compared to the previous period
Gasoline RON 95-III 23,530 -390
E5 RON 92-II gasoline 22,270 -340
Diesel oil 20,880 -1,060
Fuel 21,510 -790

World gasoline prices today November 21, 2023

On the world market, gasoline prices today, November 21, tend to increase.

Data from Oilprice shows that, at 9:24 a.m. on November 21 (Vietnam time), Brent oil price was trading at 82.16 USD/barrel. WTI oil price is at 77.60 USD/barrel.

On November 20, international gasoline prices increased following the increasing momentum of last week’s trading session.

According to data from Oilprice, at 8:36 p.m. on November 20 (Vietnam time), Brent oil price was trading at 82.24 USD/barrel, up 1.63 USD, equivalent to 2.02% compared to the previous session. before. WTI oil price was at 77.41 USD/barrel, an increase of 1.52 USD, equivalent to 2% compared to the previous session.

Analysts believe that oil prices are rising due to concerns that global supply continues to tighten.

Gasoline prices are increasing rapidly (Photo: Reuters)

Oil prices rose rapidly due to speculation that the Organization of the Petroleum Exporting Countries and its allies (also known as OPEC+) would continue to cut supply deeper to support prices. In the last four weeks, oil prices have fallen continuously as concerns about supply disruptions from the Middle East have subsided.

Prices of both key oils rose more than 4% in the session on November 17 after Reuters news agency quoted three OPEC+ sources as saying that the organization is considering further oil supply cuts at its meeting on November 26. /11 to.

According to analysts at Goldman Sachs Bank (USA), their statistical models for OPEC’s decisions show that the possibility of OPEC cutting production further is not excluded, when oil reserves increase higher than expected. ants.

Goldman Sachs forecasts that OPEC will maintain the current level of production cuts in 2024, and at the same time, Saudi Arabia’s decision to cut 1 million barrels per day will continue until the second quarter of 2024 and be gradually adjusted from May 2024. July 2024.

However, the increase in oil prices is limited by signals of additional supply from some countries.

Petroleum services firm Baker Hughes said that the number of US drilling rigs last week increased by 6 rigs to 500 rigs.

In addition, Russia has also lifted the ban on gasoline exports. The move comes after Russia lifted most restrictions on diesel exports last month.

Financial news on the morning of November 20, 2023: Gold price is unlikely to increase, oil goes up, USD fallsGold price today November 20, 2023 on the world market is considered difficult to increase by experts. World gasoline prices tend to go up following the increasing momentum of last week’s trading session. International USD prices continue to decline.

The article is in Vietnamese

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