World oil prices today
World oil prices recorded a sharp increase last week. At the end of the trading week, WTI crude oil was at 69.24 USD/barrel last week, increasing to 70.33 USD/barrel this weekend. Overall, WTI crude oil increased by 1.09 USD/barrel last week, equivalent to an increase of 1.6% compared to the previous week.
Brent crude oil was at $71.61/barrel last week, up to $74.72/barrel this weekend. Overall, Brent crude oil increased by $3.11/barrel last week, up 4.3% compared to the previous week.
The US Federal Reserve (Fed) has cut interest rates by 50 basis points, supporting fuel consumption in the US and other major economies, while also enabling the People's Bank of China (PBoC) to reduce borrowing costs and support oil import demand, according to analysts.
Domestic gasoline prices today
On September 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 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 19. Accordingly, gasoline and oil prices fluctuated in the opposite direction with gasoline prices increasing and oil prices decreasing. E5 RON 92 gasoline increased by 51 VND/liter, RON 95-III gasoline increased by 127 VND/liter, diesel decreased by 122 VND/liter, and kerosene decreased by 239 VND/liter. In contrast to diesel and kerosene, fuel oil increased by 359 VND/kg. This is the first increase in gasoline prices in the past 5 weeks.
Gasoline discount today
Discount prices of petroleum products today, September 22, at some domestic petroleum dealers are as follows:
PV OIl discounts on September 22 as follows: Oil discount: 1,050 VND/liter; RON 95 - III gasoline: 800 VND/liter; E5 gasoline: 700 VND/liter.
Tu Luc Petroleum discounts on September 22 as follows: Oil discount: 1,000 VND/liter; RON 95 - III gasoline: 750 VND/liter; E5 gasoline: 650 VND/liter.
MIPEC gasoline discount on September 22: RON 95 - III discount: 900 VND/liter; E5 gasoline: 700 VND/liter; oil: 1,100 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 sharply. Of which, gasoline is forecast to increase by 800-900 VND/liter; oil will increase by about 400-500 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 18 times and decreased 19 times. Oil prices have increased 16 times and decreased 21 times.
