World oil prices today
World gasoline and oil prices continue to record remarkable fluctuations. At the end of yesterday's trading session (August 20), WTI and Brent oil prices increased by 2.5% and 2.1% respectively.
By this morning's session, the two oil commodities fluctuated in opposite directions. At 7:46 am (Vietnam time), WTI oil price was at 86.31 USD/barrel, down 0.52 USD/barrel, equivalent to a decrease of 0.60%. WTI oil price closed the previous trading session at 86.83 USD/barrel, and opened today's session at 86.32 USD/barrel.
Brent oil was at 93.36 USD/barrel, up 0.15 USD/barrel, equivalent to an increase of 0.16%. Brent oil closed the previous trading session at 93.21 USD/barrel, and opened today's session also at 93.21 USD/barrel.
World oil prices rose in the trading session on August 20, amid escalating tensions related to Iran. US President Donald Trump declared an "unprecedented economic war and isolation" against Iran, and warned of economic consequences for any country or organization that supports Tehran or provides support to this country.
On Iran's side, Tehran has repeatedly rejected the effectiveness of sanctions, affirming that pressure and threats will not force this country to change its course.
Meanwhile, Iran is considering a plan to collect tolls and fine ships passing through the Strait of Hormuz.
According to the draft plan to ensure security in the Strait of Hormuz, ships identified as hostile or involved in espionage activities, with a risk of threatening Iran's national security, will not be allowed to pass through this maritime route. The draft also stipulates that Israeli military ships and civilian ships will be prohibited from passing through the Strait of Hormuz.
In addition to controlling ships, the plan proposes to collect fees for vehicles passing through the Strait of Hormuz. Ships violating regulations may also be subject to penalties.
According to Kpler data, ship traffic through the Strait of Hormuz is still low.
Prolonged conflict is also affecting the supply of refined fuel, in the context of reduced crude oil allocation to oil refineries.
Data released by the US Energy Information Administration (EIA) on August 19 showed that US distillate fuel inventories, including diesel and heating oil, have decreased for the third consecutive week. Meanwhile, US commercial crude oil inventories unexpectedly increased by 4.4 million barrels in the week ending August 14.
Domestic gasoline prices today
On August 21, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above domestic retail gasoline and oil prices are adjusted by Petrolimex according to the inter-ministry of Industry and Trade - Finance's management period from 3:00 PM on August 20.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 600 VND/liter.
+ Diesel oil 0.001S - V: 600 VND/liter.
+ E10 RON 95-III gasoline: 600 VND/liter.
+ E15 RON 92-II gasoline: 600 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 600 VND/liter.
+ Diesel oil 0.05S-II: 600 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, it is predicted that in the next price adjustment period, retail gasoline and oil prices may increase.
In which:
- E10 gasoline increased by about 400 VND/liter.
- E5 RON 92 - II gasoline increased by about 400 VND/liter.
- Diesel oil increased by about 600 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.
