World oil prices today
World oil prices increased across the board in the trading session on November 2 (Vietnam time). At the end of the weekend trading session, WTI crude oil was at 69.33 USD/barrel, up slightly by 0.07 USD/barrel, equivalent to an increase of 0.10%. WTI crude oil closed the previous trading session at 69.26 USD/barrel and opened today's session at 70.47 USD/barrel.
Brent crude oil was at $72.65 a barrel, up $0.20 a barrel, or 0.28 percent. Brent crude oil closed the previous session at $72.81 a barrel and opened today at $74.01 a barrel.
Thus, the increase in oil prices at the end of the week has cooled down after consecutive sessions of strong increases. According to analysts, oil prices fluctuate because Iran's response is still limited, similar to the recent attack by Israel. Iran's airstrikes on Israel only caused minor damage.
Another factor that has helped oil prices rise sharply is the possibility that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will delay plans to increase oil production in December due to concerns about weak oil demand and rising supply. OPEC+'s decision is likely to be made next week.
Domestic gasoline prices today
On November 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 October 31. Accordingly, gasoline and oil prices were adjusted in opposite directions, with gasoline prices decreasing and oil prices increasing. E5 RON 92 gasoline prices decreased by VND284/liter, RON 95-III gasoline decreased by VND391/liter, diesel increased by VND91/liter, kerosene increased by VND263/liter, and fuel oil increased by VND232/kg.
Gasoline discount today
Discount prices of petroleum products today, November 2, at some domestic petroleum dealers:
PVOIL discounts on November 2 as follows: Oil discount: 850 VND/liter; RON 95 - III gasoline: 850 VND/liter; E5 gasoline: 850 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 2 as follows: Oil discount: 800 VND/liter; RON 95 - III gasoline: 800 VND/liter; E5 gasoline: 800 VND/liter.
MIPEC gasoline discount on November 2: RON 95 - III discount: 600 VND/liter; E5 gasoline: 500 VND/liter; oil: 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 next price adjustment period, petroleum prices may increase.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 23 times. Oil prices have increased 19 times and decreased 24 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.
