World oil prices today
World oil prices increased across the board in the trading session on October 18 (Vietnam time). At 10:27 a.m., WTI crude oil was at $70.89 per barrel, up $0.22 per barrel, or 0.31%. WTI crude oil closed the previous trading session at $70.67 per barrel and opened today's session at $70.75 per barrel.
Brent crude oil was at $74.60 a barrel, up $0.15 a barrel, or 0.20 percent. Brent crude oil closed the previous session at $74.45 a barrel and opened today at $74.53 a barrel.
Thus, the world oil price closed yesterday's session slightly up, the upward trend continued to be maintained until this morning after 3 consecutive sessions of price reduction before. Both oil products recovered slightly after hitting their lowest level since October 2 in the previous session.
According to Reuters, on October 17, the US Energy Information Administration said that in the week ending October 11, US crude oil inventories fell by 2.2 million barrels to 420.6 million barrels, contrary to analysts' expectations of an increase of 1.8 million barrels. Gasoline and distillate inventories also fell by 2.2 million barrels and 3.5 million barrels, respectively.
Positive economic news from the US and Europe also supported oil prices. In the eurozone, although economic growth was slow, there were signs of improvement. Meanwhile, US import prices in September recorded the sharpest decline in nine months due to a sharp drop in energy costs.
Domestic gasoline prices today
On October 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 - Ministry of Industry and Trade in the price management session on the afternoon of October 17. Accordingly, gasoline and oil prices decreased simultaneously.
The price of E5 RON 92 gasoline decreased by 116 VND/liter, RON 95-III gasoline decreased by 99 VND/liter. Oil prices decreased more with diesel down 179 VND/liter, kerosene down 163 VND/liter. Among the gasoline products, only fuel oil increased by 179 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, October 18, at some domestic petroleum dealers:
PV OIl discounts on October 18 as follows: Oil discount: 1,450 VND/liter; RON 95 - III gasoline: 1,350 VND/liter; E5 gasoline: 1,350 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on October 18 as follows: Oil discount: 1,400 VND/liter; RON 95 - III gasoline: 1,300 VND/liter; E5 gasoline: 1,300 VND/liter.
MIPEC gasoline discount on October 18: RON 95 - III discount: 1,200 VND/liter; E5 gasoline: 1,100 VND/liter; oil: 1,450 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 decrease.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 21 times. Oil prices have increased 18 times and decreased 23 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.
