Gasoline and oil prices today, August 10, ending the last trading session of the week (August 9), oil prices increased slightly. (Source: Oliprice)

Brent crude rose 50 cents, or 0.6%, to $79.66 a barrel. WTI crude rose 65 cents, or 0.9%, to $76.84 a barrel. For the week, Brent rose more than 3.5%, while WTI rose more than 4%.

Commenting on the oil price recovery, Dennis Kissler, senior vice president of trading at BOK Financial, said that geopolitical tensions still appear to be a positive factor and recession fears have subsided, at least for now.

Some Federal Reserve policymakers are confident that U.S. inflation is cooling enough to warrant a rate cut. A larger-than-expected drop in U.S. jobless claims also helped oil prices climb.

Oil prices also rose after data from China's National Bureau of Statistics showed that the country's consumer price index rose 0.5% year-on-year in July, the highest in five months, and up from a 0.2% increase in June.

Pierre Veyret, technical analyst at ActivTrades, said the upward momentum in oil prices was further reinforced by better-than-expected Chinese inflation data. In addition, oil prices will remain at $80 per barrel as rising geopolitical tensions in the Middle East could disrupt regional production and reduce global crude supplies.

On August 8, the leaders of the United States, Egypt and Qatar called on Israel and Hamas to meet for talks on August 15 to finalize a ceasefire in Gaza and a hostage release agreement.

Meanwhile, the Russia-Ukraine conflict continues as Moscow moves more tanks, artillery and missile systems to the Kursk region to end the surprise attack by Ukrainian forces.

Also supporting oil prices was the dollar index falling to 103.14 after three days of gains and production at Libya's Sharara oil field falling due to protests.

The US oil rig count, an indicator of future output, rose by three to 485 this week.

Domestic retail prices of gasoline on August 10 are as follows:

The above domestic retail price of gasoline and oil was adjusted by the Ministry of Finance - Industry and Trade at the price management session on the afternoon of August 8.

Due to the sharp drop in world oil prices, domestic oil prices have also dropped sharply, marking the fifth consecutive drop.

RON 95-III gasoline decreased the most, by 930 VND/liter, followed by E5 RON 92 gasoline, down 901 VND/liter. Fuel oil price decreased by 858 VND/kg, diesel oil decreased by 737 VND/liter, and kerosene decreased by 684 VND/liter.