The price of gasoline at the beginning of this morning 15.8 (Vietnam time) on the world market dropped to 0.4% to 54.8 USD / barrel with WTI oil, Brent oil price dropped by 0.3% to 59 USD / barrel. September Brent crude oil price fell 3.2% to $ 59.3 / barrel. WTI oil fell 3.3% to 55.2 USD / barrel.

At the session yesterday, crude oil price also dropped by 3%. In addition to the unfavorable Chinese and European economic data, US crude oil inventories suddenly rose for the second week in a row that directly put pressure on oil prices. US crude oil inventories rose 1.6 million barrels last week versus the forecast of 2.8 million barrels. Crude inventories reached 440.5 million barrels, 3% higher than the 5-year average. Gasoline stocks fell 1.4 million barrels, in contrast to a 25,000 barrel increase forecast and gasoline demand also rose to 9.93 million barrels / day.

Crude oil prices increased sharply from August 13 after US President Donald Trump stepped back on the date of 1.9 days to apply 10% tariff on some products (about half of the target list of 300 billion USD) of Chinese goods.

Domestic petroleum prices according to the adjustment of petrol and oil price of the Ministry of Industry and Trade - Finance on the 1.8th day slightly decreased. Accordingly, each liter of E5 RON 92 reduced 377 VND, RON 95 gasoline decreased by 316 VND. di‌esel oil increased by 26 dong and kerosene increased by 7 dong. Meanwhile, madut oil dropped by 53 dong / kg. With this adjustment, the price of E5 RON 92 gas is about VND 19,902 per liter; RON 95 is VND 20,919 per liter. Kerosene and di‌esel oil increased respectively to VND 17,023 and VND 15,966.

Before the trend of the world oil and gas price is increasing continuously and the world oil inventories continue to rise, the possibility of gasoline price in the next adjustment period will continue to decline slightly. However, the petroleum expert also noted that gasoline price is difficult to forecast at this time because it depends on the world price and how to extract stabilization fund under the management of the inter-ministry.