Domestic gasoline prices today
On May 17, 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 gasoline and oil in the country mentioned above was adjusted by the inter-ministry of Industry and Trade - Finance from 3 pm on May 14.
Accordingly, gasoline and oil prices simultaneously decreased. E5RON92 gasoline decreased by 656 VND/liter; RON95 gasoline decreased by 276 VND/liter; diesel oil 0.05S decreased by 268 VND/liter; mazut oil decreased by 587 VND/kg.
Over the past time, domestic gasoline and oil prices have been continuously adjusted down sharply.
In which, diesel oil prices have decreased sharply from 49,788 VND/liter recorded on April 3 to 27,226 VND/liter in the operating period on May 14, corresponding to a decrease of 22,562 VND/liter.
For RON95-III gasoline, compared to the level of 26,976 VND/liter recorded on April 3, the price of this item has now decreased by 2,898 VND/liter, down to 24,0078 VND/liter.
Similarly, the price of E5 RON92 gasoline also decreased by 2,304 VND/liter, from 25,428 VND/liter to 23,124 VND/liter.
According to the Ministry of Industry and Trade, retail gasoline and oil prices in Vietnam are currently significantly lower than in many neighboring countries sharing a common border.
The inter-ministry of Industry and Trade - Finance is continuing to closely monitor market developments to announce appropriate gasoline and oil prices, in accordance with directives, and promptly propose to the Government and the Prime Minister solutions to stabilize gasoline and oil prices.
World oil prices today
World gasoline prices recorded a week of price increases. At the end of a trading week, WTI crude oil was at 95.42 USD/barrel last weekend, increasing to 105.42 USD/barrel this weekend. Overall last week, WTI oil increased by 10 USD/barrel, equivalent to an increase of 10.5% compared to the previous week.
Brent oil was at 101.29 USD/barrel last weekend, up to 109.26 USD/barrel this weekend. Overall last week, Brent oil increased by 8.06 USD/barrel, equivalent to an increase of 7.9% compared to the previous week.
According to analysts, the world oil market last week experienced many strong fluctuations, but the main trend was still price increases. Oil prices continuously suffered intertwined impacts from tensions in the Middle East, fragile peace prospects between the US and Iran, and concerns that the US Federal Reserve (Fed) may continue to raise interest rates.
The increase in oil prices stems from negative signals in the negotiation process between the US and Iran, as the two sides have not yet found common ground on Tehran's demands. In addition, Iran continues to assert sovereignty over the Strait of Hormuz - a strategic shipping route that transports about 20% of global oil and liquefied natural gas (LNG) daily.
Market sentiment is also overshadowed by concerns about prolonged supply disruptions. Saudi Aramco CEO, Mr. Amin Nasser, warned that disruptions to exports through the Strait of Hormuz could cost the market about 100 million barrels of oil per week.
The market is also affected by Ukraine's attacks on Russian oil refineries, increasing concerns about global energy supplies. Meanwhile, the high-level meeting between the US and China has not made significant progress regarding reopening the Strait of Hormuz, causing cautious sentiment to continue to prevail.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 300 VND/liter;
+ Diesel oil 0.001S-V: 550 VND/liter at Duc Giang warehouse;
+ RON 95 - III gasoline: 500 VND/liter;
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ RON 95 - III gasoline: 300 VND/liter.
+ Diesel oil 0.05S-II: 400 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.
