World oil prices today
World oil prices fell across the board on October 22 (Vietnam time). At 12:02, WTI crude oil was at $69.75/barrel, down $0.29/barrel, or 0.41%. WTI crude oil closed the previous session at $70.04/barrel and opened today's session at $69.91/barrel.
Brent crude oil was at $73.96 a barrel, down $0.33 a barrel, or up 0.44%. Brent crude oil closed the previous trading session at $74.29 a barrel and opened today's session at $74.03 a barrel.
Thus, world oil prices, after a strong recovery yesterday (October 21), turned slightly down in the morning session of October 22.
US crude oil inventories likely rose by about 100,000 barrels last week, while distillate and gasoline inventories fell, Reuters reported.
In China, despite measures to stimulate economic growth in the country, on October 21, the head of the International Energy Agency said that China's oil demand next year is expected to remain weak, due to slow growth and the electrification of transportation.
In addition, the context of the continuous conflict in the Middle East also strongly affected oil prices. In particular, the risk that Israel may retaliate against Iran increased concerns about supply disruptions from this region, pushing oil prices up sharply.
Domestic gasoline prices today
On October 22, 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 price of gasoline and oil was adjusted by the Ministry of Finance - Ministry of Industry and Trade in the price management session on the afternoon of October 17. Accordingly, gasoline and oil prices decreased simultaneously.
The price of E5 RON 92 gasoline decreased by 116 VND/liter, RON 95-III gasoline decreased by 99 VND/liter. Oil prices decreased more with diesel down 179 VND/liter, kerosene down 163 VND/liter. Among the gasoline products, only fuel oil increased by 179 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, October 22, at some domestic petroleum dealers are as follows:
PV OIl discounts on October 22 as follows: Oil discount: 1,600 VND/liter; RON 95 - III gasoline: 1,450 VND/liter; E5 gasoline: 1,350 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on October 22 as follows: Oil discount: 1,550 VND/liter; RON 95 - III gasoline: 1,400 VND/liter; E5 gasoline: 1,300 VND/liter.
MIPEC gasoline discount on October 22: RON 95 - III discount: 1,250 VND/liter; E5 gasoline: 1,200 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 be adjusted in opposite directions. In particular, gasoline is forecast to increase slightly by about 100-200 VND/liter; oil will decrease by 300 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 21 times. Oil prices have increased 18 times and decreased 23 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.
