World oil prices today
World oil prices fell across the board on October 12 (Vietnam time). WTI crude oil was at $75.49/barrel, down $0.35/barrel, or 0.47%. WTI crude oil closed the previous session at $75.85/barrel and opened today's session at $75.34/barrel.
Brent crude oil was at $78.76 a barrel, down $0.64 a barrel, or 0.81 percent. Brent crude oil closed the previous session at $79.40 a barrel and opened today at $76.68 a barrel.
Thus, oil prices ended the weekend session with a decline, ending the strong increase with 3 consecutive sessions of increase before. According to analysts, oil prices increased due to political instability, the widespread conflict between Israel and Iran could flare up into war, causing disruption to crude oil supply in the Middle East.
Adding to the pressure on oil prices is the storm that entered the Atlantic after devastating the US state of Florida. Analysts predict that the current high oil prices could last into next week, as US gasoline demand spiked even before Hurricane Milton hit Florida. However, fuel consumption could fall after the storm.
Domestic gasoline prices today
On October 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 price of gasoline and oil was adjusted by the Ministry of Finance - Ministry of Industry and Trade in the price management session on the afternoon of October 10. Accordingly, gasoline and oil prices increased sharply.
The price of RON 95-III gasoline increased the most, by VND1,258/liter, followed by kerosene price, which increased by VND1,139/liter. Diesel price increased by VND1,099/liter, E5 RON 92 gasoline increased by VND996/liter, and fuel oil increased the least, by VND908/kg.
Gasoline discount today
Discount prices of petroleum products today, October 12, at some domestic petroleum dealers:
PV OIl discounts on October 12 as follows: Oil discount: 950 VND/liter; RON 95 - III gasoline: 1,050 VND/liter; E5 gasoline: 950 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on October 12 as follows: Oil discount: 900 VND/liter; RON 95 - III gasoline: 1,000 VND/liter; E5 gasoline: 900 VND/liter.
MIPEC gasoline discount on October 12: RON 95 - III discount: 900 VND/liter; E5 gasoline: 800 VND/liter; oil: 1,000 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.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 20 times. Oil prices have increased 18 times and decreased 22 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.
