Gasoline and oil prices today, June 16: Fall to a low level

World oil prices today

World gasoline and oil prices simultaneously fell sharply. At the end of the trading session on June 15, Brent oil price decreased by 4.16 USD/barrel, equivalent to a decrease of 4.76%, to 83.17 USD/barrel.

WTI oil prices fell 4.13 USD/barrel, equivalent to 4.87%, to 80.75 USD/barrel. This is the lowest closing price for both types of oil since March 4.

According to analysts, oil prices fell sharply after the US and Iran confirmed reaching a peace agreement to end the conflict and reopen the Strait of Hormuz. This development has caused the energy market to gradually eliminate most of the "risk premiums" that had been added to oil prices during the escalating military tensions in the Middle East.

Concerns about the risk of supply disruption have also cooled down significantly when positive signals appeared about the resumption of transportation through the Strait of Hormuz - the vital sea route of the global oil market. Experts believe that if large supply from the Gulf region gradually returns to the market, oil price reduction pressure is predicted in advance.

Many international financial institutions have also adjusted their forecasts in a more cautious direction. Citibank has lowered its average Brent oil price forecast to $75/barrel in the third quarter and $70/barrel in the fourth quarter of 2026, with the expectation that trade through the Strait of Hormuz will gradually resume and stabilize.

However, analysts believe that the process of restoring oil and gas supply will not take place immediately. Ensuring maritime safety, restoring the maritime transport system as well as exploitation and export activities in the Gulf region is forecast to take a long time.

According to the International Energy Agency (IEA), more than 14 million barrels of oil/day have been discontinued due to the impact of the conflict, equivalent to about 14% of global oil demand. It may take weeks to bring oil production and refining capacity back to pre-conflict levels, or even longer in some cases.

However, some factors may still support oil prices in the medium and long term. Global oil inventories are at a low level, production recovery progress may be slower than expected, while the need for strategic reserves supplementation of many countries is still high. These factors are assessed to contribute to limiting the deep decline of oil prices in the coming time.

Domestic gasoline prices today

On June 16, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:

The retail price of domestic gasoline and oil mentioned above was adjusted by the inter-Ministry of Industry and Trade - Finance from 3:00 PM on June 11. In which the price of E5RON92 gasoline decreased by 452 VND/liter; E10 RON95-III gasoline decreased by 270 VND/liter; diesel oil 0.05S decreased by 989 VND/liter; mazut oil 180 CST 3.5S decreased by 1,037 VND/kg.

Gasoline and oil discount today

- Tu Luc Petroleum Joint Stock Company 1:

+ Diesel oil 0.05S - II: 1,450 VND/liter;

+ Diesel oil 0.001S-V: 1,450 VND/liter.

+ E10 RON 95-III gasoline: 1,250 VND/liter

+ E5 RON 92 - II gasoline: 1,250 VND/liter

- Hoang Trong General Trading Co., Ltd.:

+ Hai Linh Warehouse, Hai Phong: Diesel Oil 0.05S: 1,200 VND/liter; E10 RON 95-III gasoline: 1,050 VND/liter.

+ Warehouse Nam Vinh, Petec, Dinh Vu: Diesel Oil 0.05S: 1,550 VND/liter; E10 gasoline: 1,200 VND/liter

+ An Phat Warehouse: Diesel oil 0.05S: 1,550 VND/liter

- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):

+ E10 RON 95 - III gasoline: 100 VND/liter.

+ Diesel oil 0.05S-II: 1,500 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 continue to decrease.

In which:

- E10 gasoline reduced by about 600 VND/liter;

- E5 RON 92 - II gasoline reduced by about 700 VND/liter;

- Diesel oil decreased by about 2,000 VND/liter.