Gasoline and diesel prices today, August 7th: Slightly rising.

Lower production at Libya's Sharara oil field, which has a capacity of 300,000 barrels per day, has also fueled concerns about supply shortages. Libya's national oil company said it would begin gradually reducing production at the field due to the protests.

The recent decline in crude oil and fuel inventories at major trading centers is also supporting oil prices.

UBS analyst Giovanni Staunovo commented: "The fundamentals for oil still indicate a supply shortage in the market, with inventories continuing to decline."

According to Staunovo, the fact that gasoline demand in the US could reach more than 9 million barrels per day last week boosted confidence in the economy .

According to estimates from the U.S. Energy Information Agency (EIA), global oil inventories decreased by approximately 400,000 barrels per day in the first half of this year. The agency forecasts that inventories will decrease by approximately 800,000 barrels per day in the second half of the year.

The agency has lowered its average oil price forecast for this year and next, citing recent price declines due to economic concerns. The EIA still expects higher oil prices in the coming months. According to the EIA, the spot price of Brent crude will range from $85 to $90 per barrel by the end of the year.

The retail prices of gasoline and diesel in Vietnam on August 7th are as follows:

The aforementioned domestic retail gasoline and diesel prices were adjusted by the Ministry of Finance and the Ministry of Industry and Trade at the price adjustment meeting on the afternoon of August 1st.

Diesel prices saw the biggest drop, at 316 VND/liter. Mazut prices decreased by 292 VND/kg, E5 RON 92 gasoline by 284 VND/liter, and RON 95-III gasoline by 281 VND/liter. Kerosene saw the smallest decrease, at 231 VND/liter.

This marks the fourth consecutive reduction in domestic fuel prices.