World oil prices today
World oil prices increased across the board in today's trading session, September 12 (Vietnam time). At 10:30 a.m. (Vietnam time), WTI crude oil was at $67.64/barrel, up $0.31/barrel, or 0.46%. WTI crude oil closed the previous trading session at $67.31/barrel and opened today's session at $67.33/barrel.
Brent crude oil was at $71.00 a barrel, up $0.39 a barrel, or 0.55 percent. Brent crude oil closed the previous session at $70.61 a barrel and opened today at $70.75 a barrel.
Concerns about Hurricane Francine disrupting output in the United States, the world's largest producer, supported oil prices, analysts said.
In addition, according to Reuters, in its recently released monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand will increase by 2.03 million barrels per day this year, down from the organization's forecast of 2.11 million barrels per day growth last month.
However, contrary to OPEC's forecast, the US Energy Information Administration (EIA) forecasts that global oil demand is expected to average about 103.1 million barrels per day in 2024, 200,000 barrels per day higher than the previous forecast of 102.9 million barrels per day.
Domestic gasoline prices today
On September 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 - Ministry of Industry and Trade in the price management session on the afternoon of September 5. Accordingly, the price of E5 RON 92 gasoline decreased by 353 VND/liter, RON 95-III gasoline decreased by 282 VND/liter, diesel oil decreased by 385 VND/liter, kerosene decreased by 341 VND/liter. The price of fuel oil decreased the most, by 407 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, September 12, at some domestic petroleum dealers are as follows:
PV OIl discounts on September 12 as follows: Oil discount: VND 2,150/liter; RON 95 - III gasoline: VND 2,000/liter; E5 gasoline: VND 1,700/liter.
Tu Luc Petroleum discounts on September 12 as follows: Oil discount: 2,100 VND/liter; RON 95 - III gasoline: 1,950 VND/liter; E5 gasoline: 1,650 VND/liter.
MIPEC gasoline discount on September 12: RON 95 - III discount: 1,800 VND/liter; E5 gasoline: 1,500 VND/liter; oil: 2,250 VND/liter.
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 sharply. Of which, gasoline prices may decrease by 900-1,000 VND/liter; oil prices decrease by about 600 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 17 times and decreased 18 times. Oil prices have increased 16 times and decreased 19 times.
