World oil prices today
World oil prices fell sharply on December 17 (Vietnam time). At 11:07 am, WTI crude oil was at 70.21 USD/barrel, down 0.50 USD/barrel, or 0.71%. WTI crude oil closed the previous trading session at 70.71 USD/barrel and opened today's session at 70.28 USD/barrel.
Brent crude oil was at $73.86 a barrel, down $0.05 a barrel, or 0.07 percent. Brent crude oil closed the previous session at $73.91 a barrel and opened today at $73.91 a barrel.
Thus, world oil prices fell sharply in yesterday's trading session (December 17), with WTI crude oil and Brent crude oil falling 1% and 0.94% respectively. The decline continued into today's trading session.
Analysts said demand in China will increase sharply, concerns about a temporary interruption of interest rate cuts by the US Federal Reserve (Fed) and rising geopolitical risks in the Middle East following fighting in Syria and the fragility of the ceasefire agreement between Israel and Hezbollah.
Analysts predict that the crude oil market could cool down significantly this week. In particular, the risk of the US imposing an import tax of over 60% on all goods coming from China will greatly affect the country's goods. China may respond by redirecting its exports to other countries.
Domestic gasoline prices today
On December 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 December 12. Accordingly, all gasoline and oil products decreased except for RON 95-III gasoline which increased by 33 VND/liter; E5 RON 92 gasoline price decreased by 3 VND/liter; diesel oil decreased by 127 VND/liter; kerosene decreased by 251 VND/liter, and fuel oil decreased by 551 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, December 17, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel (0.005S-V) Hai Linh warehouse, Hai Phong: 800 VND/liter; Diesel (0.005S-V) Bac Ninh warehouse: 650 VND/liter; RON 95 - III gasoline Hai Linh warehouse, Hai Phong: 800 VND/liter; RON 95 - III gasoline Bac Ninh warehouse: 600 VND/liter; E5 gasoline: 700 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount (0.005S-V): 800 VND/liter; Diesel (0.001S-V): Out of stock; RON 95 - III gasoline: 700 VND/liter; E5 gasoline: 700 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 600 VND/liter; E5 gasoline: 600 VND/liter; Diesel oil (0.005S-V): 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 next price adjustment period, petroleum prices may increase sharply.
In particular, the price of RON 95-III gasoline is forecasted to increase by about 490 VND/liter; E5 gasoline by about 450 VND/liter; and Diesel by about 540 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 23 times and decreased 26 times. Oil prices have increased 21 times and decreased 28 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.
