World oil prices today
World oil prices continued to fall on December 19 (Vietnam time). At 9:22 a.m., WTI crude oil was at $69.46/barrel, down $0.02/barrel, or 0.03%. WTI crude oil closed the previous trading session at $69.48/barrel and opened today's session at $69.50/barrel.
Brent crude oil was at $72.85 a barrel, down $0.02 a barrel, or 0.03 percent. Brent crude oil closed the previous session at $72.87 a barrel and opened today at $73.00 a barrel.
Thus, world oil prices continued to fall sharply in yesterday's trading session (December 17), with WTI crude oil and Brent crude oil falling 1% and 0.5% respectively. World oil prices continued to fall slightly this morning and traded within the closing price range of yesterday's session.
Analysts said that world oil prices fluctuated due to the direct impact of decisions to extend production cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) until the end of the first quarter of 2025.
The outlook for the oil market next year is being negatively impacted as supply from countries outside the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) is increasing, while demand is slowing, mainly in China.
Chinese officials continue to call for more consumer-focused stimulus as policymakers prepare for more U.S. trade tariffs after President-elect Donald Trump takes office for a second term. This is having a big impact on oil price volatility, with analysts predicting a sharp drop in prices this week compared to last week.
Domestic gasoline prices today
On December 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 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 19, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel (0.05S-II) Hai Linh warehouse, Hai Phong: 850 VND/liter; Diesel (0.05S-II) Bac Ninh warehouse: 850 VND/liter; RON 95 - III gasoline Hai Linh warehouse, Hai Phong: 700 VND/liter; RON 95 - III gasoline Bac Ninh warehouse: 600 VND/liter; E5 gasoline: 750 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount (0.05S-II): 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 (0.05S-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 price adjustment period this afternoon, petroleum prices may increase sharply.
In particular, the price of RON 95-III gasoline is forecasted to increase by about 410 VND/liter; E5 gasoline by about 380 VND/liter; and Diesel oil by about 480 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.
