World oil prices today
World gasoline and oil prices simultaneously fell sharply. At 6:40 am (Vietnam time), WTI oil price was at 95.1 USD/barrel, down 5 USD/barrel, equivalent to a decrease of 4.8%. WTI oil price closed the previous trading session at 99 USD/barrel and opened this morning's session at 97.87 USD/barrel.
Brent oil price was at 105.46 USD/barrel, down 5.8 USD/barrel, equivalent to a decrease of 5.2%. Brent oil price closed the previous trading session at 105.48 USD/barrel and opened this morning's session at 105.48 USD/barrel.
According to analysts, oil prices simultaneously fell sharply as expectations appeared that the Hormuz Strait could soon be reopened. The US said negotiations with Iran are approaching the final stage, raising expectations that oil supplies from the Middle East will gradually return to the market.
In the opposite direction, Iran is also currently considering the latest draft response from the US to the 14 points proposal that Tehran put forward earlier. If an agreement is reached, naval blockades related to commercial transport activities through the Strait of Hormuz may be lifted. This is a strategic shipping route where oil tanker operations have been disrupted since March.
Satellite data shows that on May 20, three super oil tankers passed through the Strait of Hormuz to transport oil to Asian markets, after more than two months of anchoring in the Gulf with a total of about 6 million barrels of crude oil on board. However, the volume of ships passing through this area is still much lower than the level of about 130 trips/day before the conflict broke out.
However, analysts warn that the global physical oil market still risks short-term supply shortages, as shipments from the Gulf region often take nearly two months to reach final consumption markets.
Domestic gasoline prices today
On May 21, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The retail price of gasoline and oil in the country mentioned above was adjusted by the inter-ministry of Industry and Trade - Finance from 3 pm on May 14.
According to this adjustment period, gasoline and oil prices simultaneously decreased. E5RON92 gasoline decreased by 656 VND/liter, RON95 gasoline decreased by 276 VND/liter, diesel oil decreased by 268 VND/liter and mazut oil decreased by 587 VND/kg.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 100 VND/liter;
+ Diesel oil 0.001S-V: 300 VND/liter at Duc Giang warehouse;
+ RON 95 - III gasoline: 350 VND/liter at Duc Giang warehouse.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ RON 95 - III gasoline: 50 VND/liter.
+ Diesel oil 0.05S-II: 50 VND/liter.
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse: Diesel oil 0.05S: 200 VND/liter; Gasoline RON 95 - III: 300 VND/liter.
+ Bac Ninh Warehouse: Diesel oil 0.05S: 50 VND/liter; Gasoline RON 95 - III: 150 VND/liter.
+ Nghi Son Warehouse: Diesel oil 0.05S: 200 VND/liter; Gasoline RON 95 - III: 300 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles about gasoline and oil prices HERE.
