World oil prices today
World oil prices recorded a slight increase last week after falling for three consecutive weeks. At the end of the trading week, WTI crude oil was at 68.16 USD/barrel last week, increasing to 69.24 USD/barrel this weekend. Overall, WTI crude oil increased by 1.08 USD/barrel last week, equivalent to an increase of 1.6% compared to the previous week.
Brent crude oil was at $71.06/barrel last week, up to $71.61/barrel this weekend. Overall, Brent crude oil increased by $0.55/barrel last week, up 0.77% compared to the previous week.
Oil prices rose last week, analysts said, as Hurricane Francine broke a previous losing streak. Official data as of September 12 showed that Hurricane Francine had cut US oil production by about 15%. However, the impact of Francine may be short-lived, as it quickly weakened after making landfall in Louisiana and the oil market will soon return its attention to weak global demand.
The IEA warned of a slowdown in global oil demand growth, particularly due to China's weakening economy, and forecast a potential supply surplus by 2024, even if OPEC+ continues to cut production.
Data earlier this week showed China's crude oil imports fell 3.1% from January to August 2024 compared to the same period last year.
Domestic gasoline prices today
On September 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 - Ministry of Industry and Trade in the price management session on the afternoon of September 12. Accordingly, the price of RON 95-III gasoline decreased by VND 1,190/liter, E5 RON 92 gasoline decreased by VND 1,080/liter, diesel oil price decreased by VND 930/liter, retail kerosene decreased by VND 934/liter, and fuel oil price decreased by VND 688/kg.
Gasoline discount today
Discount prices of petroleum products today, September 15, at some domestic petroleum dealers are as follows:
PV OIl discounts on September 15 as follows: Oil discount: 1,500 VND/liter; RON 95 - III gasoline: 1,150 VND/liter; E5 gasoline: 950 VND/liter.
Tu Luc Petroleum discounts on September 15 as follows: Oil discount: 1,450 VND/liter; RON 95 - III gasoline: 1,100 VND/liter; E5 gasoline: 900 VND/liter.
MIPEC gasoline discount on September 15: RON 95 - III discount: 1,000 VND/liter; E5 gasoline: 800 VND/liter; oil: 1,600 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 be adjusted down. The decrease is about 100-200 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 17 times and decreased 19 times. Oil prices have increased 16 times and decreased 20 times.
