World oil prices today
World oil prices increased sharply in the first trading session of the week on October 2 (Vietnam time). At 10:10 a.m., WTI crude oil was at 70.91 USD/barrel, up 1.08 USD/barrel, equivalent to an increase of 1.55%. WTI crude oil closed the previous trading session at 69.83 USD/barrel, opening today's session at 70.73 USD/barrel.
Brent crude oil was at $74.56 a barrel, up $1.00 a barrel, or 1.36 percent. Brent crude oil closed the previous session at $73.56 a barrel and opened today at $74.44 a barrel.
Thus, at the end of the trading session on October 1, oil prices increased by about 3%, and the strong increase continued in today's session with an increase of more than 1% on the morning of September 2.
Oil prices rose after Iran fired a barrage of ballistic missiles at Israel in retaliation for Israel’s campaign against Tehran’s ally Hezbollah in Lebanon. An Israeli attack on Iranian oil production or export facilities could disrupt supplies of more than 1 million barrels per day, analysts said.
Meanwhile, in the Red Sea, Yemen’s Iran-backed Houthi forces have also claimed responsibility for attacking at least one of the two damaged vessels off the port of Hodeidah. In the event of an escalation, attacks could target other Middle Eastern oil producers, particularly Saudi Arabia. So there is a real fear that oil supplies could be affected.
Domestic gasoline prices today
On October 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 - Ministry of Industry and Trade in the price management session on the afternoon of September 26. Accordingly, gasoline and oil prices were adjusted up. RON 95 gasoline increased by 750 VND/liter; E5 RON 92 gasoline increased by 680 VND/liter; diesel increased by 460 VND/liter; kerosene increased by 320 VND/liter; and fuel oil increased by 530 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, October 2, at some domestic petroleum dealers are as follows:
PV OIl discounts on October 2 as follows: Oil discount: 1,650 VND/liter; RON 95 - III gasoline: 1,750 VND/liter; E5 gasoline: 1,450 VND/liter.
Tu Luc Petroleum discounts on October 2 as follows: Oil discount: 1,600 VND/liter; RON 95 - III gasoline: 1,700 VND/liter; E5 gasoline: 1,400 VND/liter.
MIPEC gasoline discount on October 2: RON 95 - III discount: 1,600 VND/liter; E5 gasoline: 1,300 VND/liter; oil: 1,550 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 may decrease sharply. Of which, gasoline may decrease by about 600-700 VND/liter; oil may decrease by about 150-200 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 19 times and decreased 19 times. Oil prices have increased 17 times and decreased 21 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.
