World oil prices today
World gasoline and oil prices have just recorded a strong increase session. At the end of yesterday's trading session (May 12), WTI and Brent oil prices increased by 4.19% and 3.42% respectively.
This is the third consecutive increase in crude oil in the context of deep disagreements between the US and Iran regarding an agreement to end the conflict in the Middle East, increasing concerns about the risk of prolonged disruption of global oil supply.
However, in this morning's trading session, oil prices simultaneously turned down. At 7:33 am (Vietnam time), WTI oil was traded at 101.59 USD/barrel, down 0.59 USD/barrel, equivalent to a decrease of 0.58%. WTI oil closed the previous trading session at 102.18 USD/barrel and opened today's session at 102.06 USD/barrel.
Meanwhile, Brent oil price was at 107.16 USD/barrel, down 0.27 USD/barrel, equivalent to a decrease of 0.25%. In the previous session, Brent oil closed at 107.43 USD/barrel and opened today's session also at 107.43 USD/barrel.
According to analysts, gasoline prices are under great pressure from the tense developments between the US and Iran. After nearly two weeks of temporarily suspending large-scale attacks, the US is said to be considering resuming military operations due to lack of consensus with Iran.
Oil prices in the previous session rose sharply after US President Donald Trump announced that the ceasefire agreement between the US and Iran was in a "critical condition" after rejecting the latest peace proposal from Tehran. This development raises concerns that the Strait of Hormuz may continue to be blockaded for a long time.
Iran is said to have called on the US to end naval blockades, ease sanctions and seek to maintain partial control over traffic through the Strait of Hormuz - the world's important oil transportation route.
Analysts say many reports show that President Donald Trump is expected to meet with the national security team to consider the possibility of the US returning to military operations, and discuss options to escort commercial ships through the Strait of Hormuz.
Some experts warn that the global oil market is losing about 100 million barrels of supply per week. If the disruption persists, the market normalization process could be delayed until next year.
Domestic gasoline prices today
On May 13, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The retail price of gasoline and oil in the country mentioned above was adjusted by the inter-ministry of Industry and Trade - Finance from 3 pm on May 7.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1, 300 VND/liter;
+ Diesel oil 0.001S-V: 1,000 VND/liter at Duc Giang warehouse;
+ RON 95 - III gasoline: 1, 300 VND/liter;
+ E5 gasoline: 1,000 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ RON 95 - III gasoline: 1, 300 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, according to current market developments, it is predicted that in the next price adjustment period, retail gasoline and oil prices may decrease.
In which:
- RON 95 - III gasoline reduced by about 820 VND/liter;
- E5 RON 92 - II gasoline reduced by about 1,100 VND/liter;
- Diesel oil decreased by about 900 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.
