World oil prices today
World oil prices recorded a sharp decline last week. At the end of the trading week, WTI crude oil was at 70.70 USD/barrel last week, down to 68.00 USD/barrel this weekend. Overall, WTI crude oil fell 2.7 USD/barrel last week, an increase or decrease of 3.8% compared to the previous week.
Brent crude oil was at $75.17/barrel last week, down to $72.94/barrel this weekend. Overall, Brent crude oil fell $2.23/barrel last week, down 3% from the previous week.
Thus, world oil prices fell last week after a sharp increase the week before. According to analysts, oil prices fluctuated continuously last week due to conflicts in the Middle East. The ceasefire agreement between Israel and Hezbollah, which took effect on November 27, reduced oil risk premiums, causing oil prices to plummet despite both sides accusing each other of violating the agreement.
In addition, the market is "waiting" for news on the production of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), scheduled to meet on December 5. After two postponements of increasing production, OPEC+ may be considering price risks due to concerns about increased supply.
Domestic gasoline prices today
On December 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 November 28. Accordingly, all gasoline and oil products increased. The price of E5 RON 92 gasoline increased by 497 VND/liter; RON 95-III gasoline increased by 329 VND/liter; diesel increased by 268 VND/liter; kerosene increased by 221 VND/liter; and fuel oil increased by 111 VND/kg.
Gasoline discount today
Discount prices of petroleum products today 1.12 at some domestic petroleum agents:
PVOIL discounts on December 1 as follows: Diesel discount (0.005S-V): 1,500 VND/liter; Diesel discount (0.001S-V): 1,400; RON 95 - III gasoline: 1,350 VND/liter; E5 gasoline: 1,150 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on December 1 are as follows: Diesel discount (0.005S-V): 1,450 VND/liter; Diesel discount (0.001S-V): 1,350; RON 95 - III gasoline: 1,300 VND/liter; E5 gasoline: 1,100 VND/liter.
MIPEC gasoline discount on December 1: RON 95 - III gasoline discount: 1,000 VND/liter; E5 gasoline: 1,000 VND/liter; oil: 1,400 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.
The forecasted decrease is about 200-400 VND/liter. Of which, RON 95 gasoline may decrease about 430 VND/liter, E5 gasoline may decrease 125 VND/liter, and Diesel oil may decrease 405 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 22 times and decreased 25 times. Oil prices have increased 21 times and decreased 26 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.
