World oil prices today
World gasoline and oil prices fluctuated sharply. At the end of yesterday's trading session (August 11), WTI and Brent oil prices increased by 1.3% and 1.4% respectively.
By this morning's session, both oil commodities continued the upward trend. At 8:24 am (Vietnam time), WTI oil price was at 84 USD/barrel, up 0.80 USD/barrel, equivalent to an increase of 0.96%. WTI oil price closed the previous trading session at 83.20 USD/barrel, and opened today's session at 83.46 USD/barrel.
Brent oil was at 89.59 USD/barrel, up 0.63 USD/barrel, equivalent to an increase of 0.71%. Brent oil closed the previous trading session at 88.96 USD/barrel, and opened today's session at 88.97 USD/barrel.
This is the highest closing price for both types of oil since July 31, marking the second consecutive day oil prices have remained at a high level.
World oil prices rose as Iran announced that the Strait of Hormuz would continue to be closed, increasing transportation costs and putting pressure on international energy supplies.
This development shows that even if negotiations between Iran and Oman on the maritime route through the Hormuz Strait reach an agreement, sea transport through this area may not be resumed immediately. Iran still sets a condition that the US must comply with the commitments in the interim agreement between Washington and Tehran on ending the conflict that the two sides signed in June.
According to Xinhua News Agency, on August 10 (local time), the US Central Command (CENTCOM) said that a US Navy MH-60 helicopter fired 2 missiles into the engine room of a cargo ship after the ship did not comply with the warning, suspected of violating the blockade order.
Also on August 10 (local time), Houthi forces in Yemen announced that they had attacked a ship believed to be carrying Saudi Arabian military equipment in the Bab Al Mandab Strait. This force also attacked Saudi Arabian-backed forces in areas controlled by the Yemeni government.
Meanwhile, the US Energy Information Administration (EIA) said on August 11 that some oil producers in the Middle East may have difficulty restoring production to pre-conflict levels by the end of 2027, even if trade returns to normal at the beginning of next year.
Domestic gasoline prices today
On August 12, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above domestic retail gasoline and oil prices are adjusted by Petrolimex according to the inter-ministry of Industry and Trade - Finance's management period from 3:00 PM on August 6.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1,000 VND/liter;
+ E10 RON 95-III gasoline: 1,000 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 800 VND/liter.
+ Diesel oil 0.05S-II: 1,300 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, it is predicted that in the next price adjustment period, retail gasoline and oil prices may decrease.
In which:
- E10 gasoline reduced by about 800 VND/liter
- E5 RON 92 - II gasoline reduced by about 900 VND/liter;
- Diesel oil decreased by about 1,100 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles about gasoline and oil prices HERE.
