World oil prices today
World oil prices recorded a sharp decline last week. At the end of a trading week, WTI crude oil was at 70.38 USD/barrel last week, falling sharply to 67.02 USD/barrel this weekend. Overall, WTI crude oil fell by 3.36 USD/barrel last week, a decrease of 4.8% compared to the previous week.
Brent crude oil was at $73.87/barrel last week, down to $71.04/barrel this weekend. Overall, Brent crude oil fell $2.34/barrel last week, up or down 3.8% from the previous week.
Thus, world oil prices last week turned sharply down after a slight increase the week before. According to analysts, oil prices last week were affected by many factors.
China’s oil demand has fallen and stimulus measures have not been as effective as expected. Meanwhile, the US is expected to impose tariffs of up to 60% on Chinese imports, much higher than the current tariffs.
The surge in the US dollar to a one-year high also put pressure on oil prices.
The Trump administration's control of the US Congress is likely to reverse most of the energy policies of the Joe Biden administration.
Domestic gasoline prices today
On November 17, 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 17, at some domestic petroleum dealers are as follows:
PVOIL discounts on November 17 as follows: Diesel discount (0.001S-V): 1,550 VND/liter; Diesel (0.001S-V): 1,500; RON 95 - III gasoline: 1,250 VND/liter; E5 gasoline: 1,200 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 17 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 17: 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 next price adjustment period, 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.
