World oil prices today
World oil prices increased sharply in the trading session on November 1 (Vietnam time). At 11:28 am, WTI crude oil was at 70.69 USD/barrel, up 1.41 USD/barrel, equivalent to an increase of 2.04%. WTI crude oil closed the previous trading session at 69.26 USD/barrel, opening today's session at 70.47 USD/barrel.
Brent crude oil was at $74.17 a barrel, up $1.36, or 1.87%. Brent crude oil closed the previous trading session at $72.81 a barrel and opened today's session at $74.01 a barrel.
Thus, world oil prices are on the rise, with the fourth consecutive session of price increase this week. Reuters quoted a source from Axios saying that Israeli intelligence has information that Iran is preparing to attack Israel in the coming days, possibly before the US presidential election (November 5). Iran has an output of about 3.2 million barrels/day, equivalent to 3% of global output.
Another factor that has helped oil prices rise sharply is the possibility that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will delay plans to increase oil production. OPEC+ members are expected to meet to decide on policy on December 1.
Domestic gasoline prices today
On November 1, 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 October 31. Accordingly, gasoline and oil prices were adjusted in opposite directions, with gasoline prices decreasing and oil prices increasing. E5 RON 92 gasoline prices decreased by VND284/liter, RON 95-III gasoline decreased by VND391/liter, diesel increased by VND91/liter, kerosene increased by VND263/liter, and fuel oil increased by VND232/kg.
Gasoline discount today
Discount prices of petroleum products today, November 1, at some domestic petroleum dealers:
PVOIL discounts on November 1 as follows: Oil discount: 1,050 VND/liter; RON 95 - III gasoline: 950 VND/liter; E5 gasoline: 950 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 1 as follows: Oil discount: 1,000 VND/liter; RON 95 - III gasoline: 900 VND/liter; E5 gasoline: 900 VND/liter.
MIPEC gasoline discount on November 1: RON 95 - III discount: 900 VND/liter; E5 gasoline: 9,000 VND/liter; oil: 1,100 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 increase.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 23 times. Oil prices have increased 19 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.
