Domestic increase, international decrease slightly?

The gasoline price list today, January 20, will be continuously updated by Tri Thuc and Life Newspaper in market newsletters. To quickly update today’s gasoline price information, readers please press F5. BTV updates continuously.

Domestic gasoline prices on January 20

Previously, in the gasoline price bulletin on January 20, popular consumer gasoline products sold in the surveyed market at 9:00 a.m. on January 20, 2024 were as follows:

This price is effective from 3:00 p.m. on January 18, 2024. From the beginning of 2024 until now, gasoline prices have had 3 adjustments, including 2 increases, 1 decrease and 0 stays the same.

World gasoline prices

World gasoline price list updated early morning Vietnam time on January 20, 2024 as follows

Data from Oilprice shows that at 9:30 a.m. on January 20 (Vietnam time), Brent oil price was trading at 78.56 USD/barrel, down 0.54 USD, equivalent to 0.68% compared to the previous session. immediately before. WTI oil price was at 73.41 USD/barrel, down 0.67 USD, equivalent to 0.9% compared to the previous session.

According to analysts, oil prices increased when the market reacted positively to data on improving oil demand in the world.

The US Energy Information Administration (EIA) reported that the country’s commercial oil inventories in the week ending January 12 decreased by nearly 2.5 million barrels. This level is down sharply compared to Reuters news agency’s forecast of a decrease of 300,000 barrels and is in stark contrast to the American Petroleum Institute’s data previously released which was an increase of 480,000 barrels.

In the January 2024 oil market report of the International Energy Agency (IEA), the agency raised its global oil demand growth forecast to 1.24 million barrels/day, 180,000 barrels/day higher. compared to estimates in the December 2023 report.

At the same time, the IEA also forecasts that world oil supply will increase by 1.5 million barrels/day, to 103.5 million barrels/day in 2024.

Previously, in the newly published monthly report, the Organization of Petroleum Exporting Countries (OPEC) said that world oil demand is expected to increase by 2.25 million barrels/day in 2024 and increase by 1.85 million barrels per day. million barrels/day in 2025 compared to the same period last year.

Regarding supply, the organization predicts non-OPEC production will increase by 1.3 million barrels/day in both 2024 and 2025.

Along with that, cold winter weather has disrupted US oil production, leading to less output while the country’s crude oil inventories have dropped sharply, also supporting oil prices.

In addition, tensions in the Middle East also caused oil prices to maintain their upward momentum. Houthi forces still carry out attacks in the Red Sea, despite the response actions of the US and UK.