World oil prices today
World oil prices increased sharply last week. At the end of the trading week, WTI crude oil was at 67.20 USD/barrel last week, increasing sharply to 71.29 USD/barrel this weekend. Overall, WTI crude oil increased by 4.09 USD/barrel last week, equivalent to an increase of 6% compared to the previous week.
Brent crude oil was at $71.12/barrel last week, up to $74.49/barrel this weekend. Overall, Brent crude oil increased by $3.37/barrel last week, up 4.7% compared to the previous week.
Thus, after two consecutive weeks of price reduction, world oil prices last week increased sharply, reaching the highest level in the past 3 weeks.
The United Arab Emirates, a member of the Organization of the Petroleum Exporting Countries (OPEC), plans to reduce oil exports early next year as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) seek more discipline, supporting rising oil prices, analysts said.
In addition, tighter sanctions on Russia and Iran, China's economic orientation, political turmoil in the Middle East and the prospect of the US Federal Reserve cutting interest rates next week also supported oil prices.
Domestic gasoline prices today
On December 15, 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 - Industry and Trade in the price management session on the afternoon of December 12. Accordingly, all gasoline and oil products decreased except for RON 95-III gasoline which increased by 33 VND/liter; E5 RON 92 gasoline price decreased by 3 VND/liter; diesel oil decreased by 127 VND/liter; kerosene decreased by 251 VND/liter, and fuel oil decreased by 551 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, December 15, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel (0.005S-V) Hai Linh warehouse, Hai Phong: 850 VND/liter; Diesel (0.005S-V) Bac Ninh warehouse: 700 VND/liter; RON 95 - III gasoline Hai Linh warehouse, Hai Phong: 750 VND/liter; RON 95 - III gasoline Bac Ninh warehouse: 600 VND/liter; E5 gasoline: 700 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount (0.005S-V): 850 VND/liter; Diesel (0.001S-V): Out of stock; RON 95 - III gasoline: 750 VND/liter; E5 gasoline: 750 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 800 VND/liter; E5 gasoline: 800 VND/liter; Diesel oil (0.005S-V): 900 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 may increase sharply.
In particular, the price of RON 95-III gasoline is forecasted to increase by about 500 VND/liter; E5 gasoline by about 450 VND/liter; and Diesel by about 430 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 23 times and decreased 26 times. Oil prices have increased 21 times and decreased 28 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.
