World oil prices today
At the end of the trading session last week, WTI crude oil was at 69.22 USD/barrel, down 1.45 USD/barrel, equivalent to a decrease of 2.05%. WTI crude oil closed the previous trading session at 70.67 USD/barrel, opening today's session at 70.75 USD/barrel.
Brent crude oil was at $73.17 a barrel, down $1.28, or 1.72%. Brent crude oil closed the previous trading session at $74.45 a barrel and opened today's session at $74.53 a barrel.
Thus, after a slight increase in yesterday morning's session (October 18), world oil prices turned sharply lower at the end of the session with a decrease of up to 2%. According to analysts, oil prices declined because China's third quarter growth still recorded the slowest rate since early 2023.
China's oil refining output fell for a sixth consecutive month, with the impact of electric vehicles in China also reducing gasoline demand in the country.
Regarding the conflict situation in the Middle East, investors are still closely watching Israel's moves towards Iran. Concerns about unexpected effects from geopolitical tensions in the Middle East have temporarily subsided when Israel announced that it has no plans to attack Iranian oil production facilities.
Domestic gasoline prices today
On October 19, 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 19, at some domestic petroleum dealers:
PV OIl discounts on October 19 as follows: Oil discount: 1,550 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 19 as follows: Oil discount: 1,500 VND/liter; RON 95 - III gasoline: 1,300 VND/liter; E5 gasoline: 1,300 VND/liter.
MIPEC gasoline discount on October 19: RON 95 - III discount: 1,200 VND/liter; E5 gasoline: 1,000 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. Of which, gasoline is forecast to decrease by 100 VND/liter; oil by 300 VND/liter.
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.
