World oil prices today
At the end of the trading week, WTI crude oil was at 73.96 USD/barrel last week, increasing to 76.57 USD/barrel this weekend. Overall, WTI crude oil increased by 2.61 USD/barrel, equivalent to an increase of 3.5% compared to the previous week.
Brent crude oil was at $76.51/barrel last week, up to $79.76/barrel this weekend. Overall, Brent crude oil increased by $3.25/barrel last week, up 4.2% compared to the previous week.
Thus, world oil prices continued to increase sharply last week, especially skyrocketing in the last trading session of the week, extending the increase to the third consecutive week, reaching the highest level in the past 3 months.
Global oil prices rose sharply as traders braced for supply disruptions due to the largest package of US sanctions targeting Russia's oil and gas industry, analysts said.
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.
However, the strong US dollar and continued strong increases in US gasoline and distillate inventories (more than 6 million barrels each) limited the upside in oil prices.
Domestic gasoline prices today
On January 12, 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. Mazut oil increased the least, 83 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, January 12, 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 will likely continue to increase. Of which, diesel prices will increase more, gasoline prices will increase slightly.
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.
