World oil prices today
World gasoline and oil prices continue to fluctuate strongly. At the end of the first trading session of the week, WTI oil prices decreased by 1.8% to 69.50 USD/barrel, while Brent oil lost 0.3, to 72.92 USD/barrel.
Oil prices continue to fall and are heading towards the strongest monthly and quarterly decline since the COVID-19 pandemic broke out in early 2020. The market is currently focusing on monitoring the possibility of the US and Iran resuming negotiations in Doha (Qatar), in the context that the temporary ceasefire between the two sides is still very fragile after 4 months of conflict.
Currently, both Brent and WTI oil are trading near the price recorded on February 27, which is before the conflict between the US - Israel and Iran broke out.
Since the beginning of June, Brent oil prices have fallen by about 21%, after falling nearly 19% in May. This is the strongest monthly decrease since March 2020, when Brent oil prices plummeted by 55% due to a sharp drop in oil demand due to the COVID-19 pandemic.
According to analysts, geopolitical risks are still a factor closely monitored by the market. However, the increasing number of oil tankers leaving the Persian Gulf and ships that were stranded gradually resuming operations have contributed to improving short-term supply, creating downward pressure on oil prices.
From a long-term perspective, Morgan Stanley bank forecasts that the global oil market may have a surplus of about 4.8 million barrels/day by 2027.
Meanwhile, the latest developments continue to increase doubts about the prospect of reaching an agreement to end the conflict between the US and Iran, as well as the possibility of fully restoring traffic through the Strait of Hormuz - a shipping route that transports about 20% of global oil supplies before the war breaks out.
Domestic gasoline prices today
On July 1st, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above-mentioned domestic retail gasoline and oil prices were adjusted by the inter-Ministry of Industry and Trade - Finance from 0:00 on July 1.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 0 VND/liter;
+ Diesel oil 0.001S-V: 0 VND/liter.
+ E10 RON 95-III gasoline: 300 VND/liter
+ E5 RON 92 - II gasoline: 300 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 350 VND/liter.
+ Diesel oil 0.05S-II: 50 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles about gasoline and oil prices HERE.
