World oil prices today
World oil prices increased sharply today. At the end of the trading session last week, WTI crude oil was at 76.57 USD/barrel, up 2.65 USD/barrel, equivalent to an increase of 3.58%. WTI crude oil closed the previous trading session at 73.92 USD/barrel, opening today's session at 76.59 USD/barrel.
Brent crude oil was at $79.79 a barrel, up $2.87 a barrel, or 3.73 percent. Brent crude oil closed the previous session at $76.92 a barrel and opened today at $79.64 a barrel.
Global oil prices surged in the last trading session of the week, reaching their highest level in the past 3 months. According to analysts, global oil prices increased sharply as traders prepared for supply disruptions due to the largest package of US sanctions targeting Russia's oil and gas industry.
Oil prices were also supported by extremely cold weather in the US and Europe, which increased demand for heating oil and other heating fuels. On the other hand, severe winter conditions could lead to disruptions in oil supplies as freezing temperatures could cause temporary freezes and production cuts.
Analysts predict that global oil demand will increase significantly year-on-year by 1.6 million barrels per day in the first quarter of 2025, mainly due to demand for heating oil, kerosene and natural gas.
Domestic gasoline prices today
On January 11, 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 prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of January 9, 2025. Accordingly, the prices of gasoline and oil products increased simultaneously.
Diesel oil price increased the most, 488 VND/liter, followed by kerosene, 410 VND/liter. E5 RON 92 gasoline price increased 374 VND/liter, RON 95-III gasoline increased 273 VND/liter. Fuel oil increased the least, 83 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, January 11, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,100 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,000 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 950 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 850 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,000 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 1,200 VND/liter; Diesel 0.001S-V: Out of stock; RON 95 - III gasoline: 1,100 VND/liter; E5 gasoline: 1,000 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 1,050 VND/liter; E5 gasoline: 1,000 VND/liter; Diesel 0.05S-II: 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.
Of which, the price of E5 RON 92 gasoline decreased by about 300 VND/liter; RON 95-III gasoline decreased by about 100 VND/liter; Diesel oil increased by less than 100 VND/liter.
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.
