Recorded on Oilprice at 5:00 a.m. on August 6 (Vietnam time), WTI oil price was at 73.92 USD/barrel, down 0.79% (equivalent to a decrease of 0.58 USD/barrel). In contrast, Brent oil price was at 77.33 USD/barrel, an increase of 0.68% (equivalent to an increase of 0.52 USD/barrel).
Oil prices fell today in volatile trading as a sell-off continued in global stock markets, but the decline was limited by fears of retaliation by Iran for the assassination of a Hamas leader Tehran could lead to a larger war in the Middle East.
During last week's trading sessions, oil prices "fell miserably". In the first session of the week of July 29, world oil prices decreased by nearly 2% despite increasing tensions in the Middle East. Oil prices continued to decline, down about 1% and closing at a seven-week low on July 30.
In the domestic market, according to a representative of a petroleum business, domestic gasoline prices will fluctuate according to the world petroleum situation.
It is forecasted that in the next price management period (Thursday, August 8), gasoline prices will continue to decrease. In particular, RON 95 gasoline price is forecast to decrease from 800 - 1,000 VND/liter; E5 RON 92 gasoline is forecast to decrease from 850 - 1,000 VND/liter; DO oil is forecast to decrease from 700 - 900 VND/liter. The above forecast price does not take into account the authorities' appropriation or expenditure of the Petroleum Price Stabilization Fund .
On August 6, retail gasoline prices according to Petrolimex's announced price list in regions 1 and 2 (46 provinces and cities are applying) are as follows:
The above domestic retail price of gasoline and oil has been adjusted by the Ministry of Finance and Industry and Trade at the price management session on the afternoon of August 1. Accordingly, diesel oil decreased the most, 316 VND/liter. The price of fuel oil decreased by 292 VND/kg, E5 RON 92 gasoline decreased by 284 VND/liter, RON 95-III gasoline decreased by 281 VND/liter. Kerosene decreased the least, 231 VND/liter. This is the fourth consecutive decrease in domestic gasoline prices.
