World oil prices today
World oil prices increased today. At 10:26, WTI crude oil was at 72.03 USD/barrel, up 0.31 USD/barrel, equivalent to an increase of 0.43%. WTI crude oil closed the previous trading session at 71.72 USD/barrel, opening today's session at 71.83 USD/barrel.
Brent crude oil was at $74.89 a barrel, up $0.25 a barrel, or 0.33 percent. Brent crude oil closed the previous session at $74.46 a barrel and opened today at $74.94 a barrel.
Thus, world oil prices are on the rise. According to analysts, developments in macroeconomic data and future decisions by OPEC and its allies (OPEC+) are factors that will determine the direction of the market in the coming time.
On the supply side, aside from the US, this year will see continued growth in output from Guyana, Canada and Brazil. Expectations that OPEC+ will gradually increase production during the year are fading as the group will only increase when prices rise sufficiently.
There have been many predictions of a supply glut this year, although US President-elect Donald Trump's sanctions on Iran could tighten supplies from the Middle East and create some upside momentum.
Domestic gasoline prices today
On January 2, 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 26. Accordingly, the price of E5 RON 92 gasoline decreased by 427 VND/liter; RON 95-III gasoline decreased by 457 VND/liter. Oil products increased and decreased in different directions. Of which, diesel oil decreased by 103 VND/liter; kerosene decreased by 260 VND/liter; only mazut oil increased by 67 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, January 2, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 900 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 8,500 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 750 VND, applied at Bac Ninh warehouse; RON 95 - III gasoline: 700 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 750 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 1,050 VND/liter; Diesel 0.001S-V: 1,000; RON 95 - III gasoline: 900 VND/liter; E5 gasoline: 900 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 800 VND/liter; E5 gasoline: 800 VND/liter; Diesel 0.05S-II: 950 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 will be adjusted up. Of which, gasoline prices may increase by about 190 VND/liter; Diesel oil increases by about 120 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 24 times and decreased 26 times. Oil prices have increased 22 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.
