The panic in the context of the Covid-19 epidemic broke out in many countries, making the price of gasoline plummeted today.
As of 11:30 am on October 29th, Vietnam time, on the New York Mercantile Exchanghe, WTI light sweet crude oil delivery in December was at 37.51 USD/barrel, up 0.12 USD/ barrel, in session. However, compared to the early of the morning on October 28th, the WTI oil price delivery in December 2020 decreased to 1.47 USD/barrel.
Meanwhile, the price of Brent oil delivery in December 2020 was at 39.10 USD/barrel, down 0.02 USD/ barrel in the session and about 1.59 USD/barrel compared to the early of the morning on October 28th.
Oil prices on October 29th tended to drop sharply amid fears that fuel consumption demand, including crude oil, would plummet when the Covid-19 epidemic broke out in many countries, forcing governments to must re-establish the blockade, social isolation …
Many experts are also concerned that, if the Covid-19 epidemic continues to break out, the risk of a global production and supply chain interruption and a complete breakdown may occur.
Oil prices today are also under strong pressure to decrease prices because of the information that US crude reserves increased more than expected, reaching a record high last week.
In the domestic market, today’s gasoline price was recorded as follows: E5 RON 92 gasoline price is not higher than 14,109 VND/liter; RON 95-III gasoline price is not higher than 14,940 VND / liter (down 182 VND/liter); Diesel oil price of 0.05S is not higher than 11,218 VND/liter; kerosene price is not higher than 9,717 VND/liter; mazut oil price 180CST 3.5S not higher than 11,261 VND/kg (an increase of 340 VND/kg)