World oil prices today
World oil prices fell across the board on October 23 (Vietnam time). At 11:38 a.m., WTI crude oil was at $71.62 per barrel, down $0.12 per barrel, or 0.17%. WTI crude oil closed the previous session at $71.74 per barrel and opened today's session at $71.35 per barrel.
Brent crude oil was at $75.92 a barrel, down $0.12 a barrel, or 0.16 percent. Brent crude oil closed the previous session at $76.04 a barrel and opened today at $75.56 a barrel.
Thus, world oil prices have been fluctuating strongly. In the first two trading sessions of the week, both WTI and Brent crude oil increased sharply. Yesterday (October 22), oil prices slipped slightly at the beginning of the session, but then rebounded with a strong increase of about 1% at the end of the session. In the morning session of October 23, oil prices continued to decline slightly.
According to data from the American Petroleum Institute on October 22, US crude oil inventories increased by 1.64 million barrels last week and an increase of 300,000 barrels in crude oil inventories is expected.
The ongoing conflict in the Middle East has also had a strong impact on oil prices. In particular, the risk that Israel may retaliate against Iran has increased concerns about supply disruptions from the region, pushing oil prices up sharply.
Besides, oil prices were supported by signs of recovering demand from China, from the efforts of the world's largest crude oil importer to stimulate the economy.
Domestic gasoline prices today
On October 23, 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 23, at some domestic petroleum dealers are as follows:
PV OIl discounts on October 23 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 23 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 23: 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 have mixed adjustments. 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.
