World oil prices today
World oil prices recorded a slight increase last week. At the end of the trading week, WTI crude oil was at 69.49 USD/barrel last week, slightly increasing to 70.38 USD/barrel this weekend. Overall, WTI crude oil increased by 0.89 USD/barrel last week, equivalent to an increase of 1.3% compared to the previous week.
Brent crude oil was at $73.10/barrel last week, up slightly to $73.87/barrel this weekend. Overall, Brent crude oil increased by $0.77/barrel last week, equivalent to an increase of more than 1% compared to the previous week.
Thus, world oil prices last week increased slightly by more than 1% and simultaneously decreased sharply by more than 2%. According to analysts, oil prices last week were affected by many factors. Among them, the threat of supply shortage due to Hurricane Rafael is easing.
The main factor supporting oil prices is the expectation that US President-elect Donald Trump will tighten sanctions on Iran and Venezuela, which could reduce oil supplies to the world market.
Putting pressure on oil prices last week was the decision by the US Federal Reserve to cut interest rates by 0.25 percentage points on November 7. In addition, China’s latest economic stimulus package has been less impressive. The Chinese government announced a package to ease local government debt repayment strains, but those measures have had no direct impact on demand.
Domestic gasoline prices today
On November 10, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities currently applying) are as follows:
The above domestic retail price of gasoline and oil was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of November 7. Accordingly, most gasoline and oil products increased, only fuel oil decreased.
The price of E5 RON 92 gasoline increased by 336 VND/liter, RON 95-III gasoline increased by 351 VND/liter. Oil prices increased more sharply with diesel increasing by 769 VND/liter, kerosene increasing by 461 VND/liter. Only fuel oil recorded a decrease of 67 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, November 10, at some domestic petroleum dealers:
PVOIL discounts on November 10 as follows: Oil discount: 1,500 VND/liter; RON 95 - III gasoline: 1,200 VND/liter; E5 gasoline: 1,150 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 10 as follows: Oil discount: 1,450 VND/liter; RON 95 - III gasoline: 1,150 VND/liter; E5 gasoline: 1,100 VND/liter.
MIPEC gasoline discount on November 10: RON 95 - III discount: 1,150 VND/liter; E5 gasoline: 1,000 VND/liter; oil: 1,300 VND/liter. Applicable to the Northern region.
Forecast of domestic gasoline prices next period
According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price adjustment period, petroleum prices may decrease.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 21 times and decreased 23 times. Oil prices have increased 20 times and decreased 24 times.
Today's gasoline prices are for reference only and may change according to market conditions without prior notice. Readers should consider carefully when using the information in this newsletter.
See more articles about gasoline prices HERE.
