World oil prices today
World oil prices fell sharply on November 16 (Vietnam time). At the end of the weekend trading session, WTI crude oil was at 66.95 USD/barrel, down 1.75 USD/barrel, equivalent to a decrease of 2.55%. WTI crude oil closed the previous trading session at 68.70 USD/barrel, opening today's session at 68.56 USD/barrel.
Brent crude oil was at $71.05 a barrel, down $1.51 a barrel, or 2.08 percent. Brent crude oil closed the previous session at $72.56 a barrel and opened today at $72.43 a barrel.
Thus, world oil prices closed the weekend trading session down more than 2% and remained at a low level.
According to analysts, the decline in oil demand in the Chinese market, coupled with the increase in the world's use of electric vehicles, will affect oil prices in the near future, causing the market to keep prices low for a while.
Any stimulus measures that are put in place could be affected by a new round of tariffs from the US, which is expected to hit US tariffs on Chinese imports of up to 60% - much higher than current tariffs.
Further weighing on oil prices during the session was the surge in the US dollar to a one-year high, and the Trump administration’s control of Congress could potentially reverse much of the energy policies of the Biden administration.
Domestic gasoline prices today
On November 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 November 14. Accordingly, all gasoline and oil products decreased simultaneously. The price of E5 RON 92 gasoline decreased by 292 VND/liter, RON 95-III gasoline decreased by 247 VND/liter, diesel oil decreased by 344 VND/liter, kerosene decreased by 306 VND/liter, and fuel oil decreased by 385 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, November 16, at some domestic petroleum dealers are as follows:
PVOIL discounts on November 16 as follows: Diesel discount (0.001S-V): 1,550 VND/liter; Diesel (0.001S-V): 1,500; RON 95 - III gasoline: 1,200 VND/liter; E5 gasoline: 1,100 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 16 as follows: Diesel discount (0.001S-V): 1,500 VND/liter; Diesel discount (0.001S-V): 1,450; RON 95 - III gasoline: 1,200 VND/liter; E5 gasoline: 1,150 VND/liter.
MIPEC gasoline discount on November 16: RON 95 - III discount: 1,000 VND/liter; E5 gasoline: 900 VND/liter; oil: 1,500 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 may decrease.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 21 times and decreased 24 times. Oil prices have increased 20 times and decreased 25 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.
