Gasoline price today August 14: Slight increase after hitting 2-month low

World oil prices today

On the morning of August 14 (Vietnam time), Brent oil price increased by 0.43% to 65.91 USD/barrel, WTI oil price increased by 0.37% to 62.89 USD/barrel.

Earlier, both contracts fell to two-month lows following negative supply reports from the US government and the International Energy Agency (IEA).

Analysts say the factor that has pushed oil prices up is geopolitical risks ahead of the meeting in Alaska on August 16 between US President Donald Trump and Russian President Vladimir Putin.

Mr Trump warned there would be “serious consequences” if Mr Putin did not agree to peace in Ukraine, including the possibility of imposing economic sanctions.

Oil prices were also supported by the near certainty that the US Federal Reserve will cut interest rates in September, after July inflation rose moderately and employment data was less positive. US Treasury Secretary Scott Bessent said the Fed could cut sharply by 0.5 percentage points.

The CME FedWatch tool shows a 99.9% chance of a 25 basis point cut at the Fed's September 16-17 meeting. Lower borrowing costs will boost demand for crude, while the dollar will weaken against the euro and the pound, providing additional support for oil prices.

However, oil prices remained under pressure after the US Energy Information Administration (EIA) announced that crude oil inventories increased by 3 million barrels in the week ending August 8, contrary to forecasts of a decrease of 275,000 barrels.

In addition, the IEA forecasts that global oil supply in 2025 and 2026 will increase faster than previously estimated, due to OPEC+ raising production and increased supply outside the bloc.

Domestic oil price today

Domestic retail prices of gasoline on August 14 are as follows:

- E5RON92 gasoline: No higher than 19,608 VND/liter

- RON95-III gasoline: No higher than VND 20,074/liter

- Diesel 0.05S: Not higher than 18,800 VND/liter

- Kerosene: Not higher than 18,660 VND/liter

- Mazut oil 180CST 3.5S: Not higher than 15,647 VND/kg

Domestically, forecasts as of this morning show that retail gasoline prices will be adjusted down this afternoon in line with the decline in world prices. The reduction in gasoline prices ranges from 400 - 500 VND/liter; diesel oil will decrease by about 650 - 800 VND/liter.

The Vietnam Petroleum Institute predicts that gasoline prices will reverse today, after two consecutive increases. Specifically, the retail price of E5 RON92 gasoline may decrease by VND451 to VND19,149/liter, and RON95 gasoline may decrease by VND403 to VND19,667/liter.

Diesel prices may drop to VND18,046/liter, kerosene may drop to VND17,929/liter, and fuel oil may drop to VND15,280/kg.

Source: https://baonghean.vn/gia-xang-dau-hom-nay-14-8-tang-nhe-sau-khi-cham-day-2-thang-10304401.html