Gasoline prices today January 18: Sharp decrease across the board

World oil prices today

World oil prices closed the weekend trading session with a sharp decrease. WTI crude oil was at 77.39 USD/barrel, down 0.46 USD/barrel, equivalent to a decrease of 0.59%. WTI crude oil closed the previous trading session at 77.85 USD/barrel, opening today's session at 77.38 USD/barrel.

Brent crude oil was at $80.73 a barrel, down $0.55 a barrel, or 0.69 percent. Brent crude oil closed the previous session at $81.29 a barrel and opened today at $81.74 a barrel.

Thus, world oil prices fluctuated strongly when they increased simultaneously in the morning session (January 17), then turned around and decreased sharply, closing the weekend session with both Brent and WTI oil down 0.59% and 0.69% respectively.

Sanctions on Russia have tightened oil supplies in Europe, India and China, analysts say, and investors are also assessing the impact of President-elect Donald Trump’s expected return to the White House on January 20.

Hopes that Yemen’s Houthi rebels will stop attacking ships in the Red Sea following a ceasefire in Gaza have halted the rise in oil prices. Attacks by the group have disrupted global shipping for more than a year.

Analysts are also weighing new data from China, the world's top oil importer, which has hit the government's target of 5% growth by 2024.

Domestic gasoline prices today

On January 18, 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 price of gasoline and oil was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of January 16, 2025. Accordingly, the price of gasoline and oil products increased simultaneously.

The price of E5 RON 92 gasoline increased by 319 VND/liter, RON 95-III gasoline increased by 201 VND/liter, diesel increased by 539 VND/liter, kerosene increased by 462 VND/liter. Notably, fuel oil increased by 999 VND/kg.

Gasoline discount today

Discount prices of petroleum products today, January 18, at some domestic petroleum businesses are as follows:

Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,050 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 850 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 900 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 700 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 850 VND/liter at Dinh Vu warehouse, Petec.

Tu Luc Petroleum: Discount on Diesel 0.05S-II: 1,000 VND/liter; Diesel 0.001S-V: 1,000; RON 95 - III gasoline: 1,000 VND/liter; E5 gasoline: 1,000 VND/liter.

MIPEC Gasoline: Discount on RON 95 - III gasoline: 700 VND/liter; E5 gasoline: 600 VND/liter; Diesel 0.05S-II: 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 will likely continue to increase sharply.