World oil prices today
World oil prices increased across the board today. At 10:39 a.m., WTI crude oil was at $79.02 per barrel, up $0.31 per barrel, or 0.39%. WTI crude oil closed the previous trading session at $78.71 per barrel and opened today's session at $78.93 per barrel.
Brent crude oil was at $82.38 a barrel, up $0.35 a barrel, or 0.43 percent. Brent crude oil closed the previous session at $82.03 a barrel and opened today at $82.46 a barrel.
Thus, world oil prices are on a very strong upward trend. In yesterday's trading session (January 15), both Brent and WTI oil increased by 2.64% and 3.28%, respectively. The upward trend continued in this morning's session.
According to analysts, world oil prices increased sharply due to a sharp decrease in US crude oil inventories. According to a report from the US Energy Information Administration (EIA), US oil inventories fell by 2 million barrels to 412.7 million barrels in the week ending January 10, the lowest level since April 2022.
World oil prices were also supported by the risk of supply disruptions due to new US sanctions on Russian oil.
Amid the turmoil, the Gaza ceasefire has put pressure on oil prices, with analysts saying concerns about supply disruptions have eased as a ceasefire between Israel and Hamas was reached.
Domestic gasoline prices today
On January 16, 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 January 9, 2025. Accordingly, the prices of gasoline and oil products increased simultaneously.
Diesel oil price increased the most, 488 VND/liter, followed by kerosene, 410 VND/liter. E5 RON 92 gasoline price increased 374 VND/liter, RON 95-III gasoline increased 273 VND/liter. Mazut oil increased the least, 83 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, January 16, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 750 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 750 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 600 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 600 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 700 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 750 VND/liter; Diesel 0.001S-V: 700; RON 95 - III gasoline: 750 VND/liter; E5 gasoline: 700 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 700 VND/liter; E5 gasoline: 600 VND/liter; Diesel 0.05S-II: 700 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 price adjustment period this afternoon, petroleum prices will likely continue to increase sharply.
Accordingly, the price of RON 95-III gasoline is forecast to increase by 230 VND/liter; E5 gasoline by 340 VND/liter; and Diesel oil by 560 VND/liter.
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.
