World oil prices today
World gasoline and oil prices fluctuated significantly. At the end of yesterday's trading session (August 12), WTI and Brent oil prices both increased by 0.7%.
By this morning's session, both oil commodities turned down. At 8:11 am (Vietnam time), WTI oil price was at 81.99 USD/barrel, down 1.28 USD/barrel, equivalent to a decrease of 1.54%. WTI oil price closed the previous trading session at 83.27 USD/barrel, and opened today's session at 82.63 USD/barrel.
Brent oil was at 87.73 USD/barrel, down 0.64 USD/barrel, equivalent to a decrease of 0.72%. Brent oil closed the previous trading session at 88.37 USD/barrel, and opened today's session at 88.37 USD/barrel.
World oil prices continue to fluctuate following the tense developments in the Strait of Hormuz, while weakening demand prospects put pressure on the market.
On August 12 (local time), according to TASS news agency, in a post on the social network Truth Social, US President Donald Trump declared that US armed forces are completely controlling the Strait of Hormuz and Washington will continue to maintain control over this strategic shipping route.
The US President also mentioned Washington's naval blockade of the area. According to Mr. Trump, this operation is being called a "steel wall" by many parties. He also declared that Iran is unable to cope with US measures.
Referring to Iran's military capabilities, Mr. Trump said that the country currently "has no navy and no air force". According to the US President, the remaining Iranian soldiers are not paid, while the Iranian Islamic Revolutionary Guard Corps (IRGC) has suffered serious losses and is withdrawing.
Mr. Trump also said that the leadership situation in Iran is still unclear.
While geopolitical instability supports oil prices, the market remains under pressure as organizations continue to lower oil demand forecasts.
According to the monthly oil market report, the Organization of the Petroleum Exporting Countries (OPEC) has lowered its forecast for world oil demand growth in 2026 to 580,000 barrels/day.
The International Energy Agency (IEA) also lowered its oil demand forecast for 2026, currently expecting demand to decrease by 1.6 million barrels/day this year.
However, the IEA also forecasts that oil supply will decrease by 4.3 million barrels/day, thereby causing the global oil market to shorten by about 1.27 million barrels/day in 2026.
Domestic gasoline prices today
On August 13, 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: 900 VND/liter;
+ E10 RON 95-III gasoline: 900 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 200 VND/liter
- E5 RON 92 - II gasoline reduced by about 500 VND/liter;
- Diesel oil decreased by about 500 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.
