World oil prices today
World oil prices fell across the board in the trading session on November 1 (Vietnam time). At 10:38 a.m., WTI crude oil was at $70.00/barrel, down $0.38/barrel, or 0.54%. WTI crude oil closed the previous trading session at $70.38/barrel and opened today's session at $70.12/barrel.
Brent crude oil was at $73.58 a barrel, down $0.31 a barrel, or 0.42 percent. Brent crude oil closed the previous session at $73.87 a barrel and opened today at $73.69 a barrel.
Thus, world oil prices continued to fall sharply in the first trading session of the week when the threat of supply disruption from a storm in the US eased and China's economic stimulus plan failed to boost fuel demand in this country.
Pressure on oil prices is partly due to the stronger US dollar following the election of US President-elect Donald Trump. Many experts predict that Mr. Trump will implement tough policies, such as tightening illegal immigration from Mexico, fighting trade fraud, and reducing trade deficits with US partners, which could impact the oil market.
Domestic gasoline prices today
On November 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 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 11, at some domestic petroleum dealers are as follows:
PVOIL discounts on November 11 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 11 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 11: 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.
