World oil prices today
In the past week, world gasoline and oil prices continued to increase sharply. WTI crude oil increased from 82.40 USD/barrel at the end of last week to 86.64 USD/barrel at the end of this week. Overall last week, WTI oil prices increased by 4.24 USD/barrel, equivalent to an increase of 5.15% compared to the end of last week.
Brent oil increased from 88.60 USD/barrel at the end of last week to 93.93 USD/barrel at the end of this week. Over the past week, Brent oil prices increased by 5.33 USD/barrel, equivalent to an increase of 6.02% compared to the end of last week.
World oil prices rose sharply last week amid escalating tensions related to Iran. US President Donald Trump declared an "unprecedentedly large-scale economic war and isolation" against Iran, while warning of the 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.
On August 21, Iran declared that responding to any new threat from the US would be "cruel". The statement was made after Washington pledged to impose the harshest financial sanctions in history against Iran, with the aim of overthrowing the country's leadership.
Along with US-Iran tensions, developments in the Strait of Hormuz continue to affect the oil market. Iran is considering a plan to collect fees and fine ships passing through this maritime route. According to the proposed plan, vehicles passing through the Strait of Hormuz may have to pay fees, while ships violating regulations may face penalties.
Kpler data shows that ship traffic through the Strait of Hormuz is still low. On August 21, only 7 cargo ships passed through this strait, halving compared to the previous day.
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 23, 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: 1,000 VND/liter;
+ Diesel oil 0.001S - V: 1. 300 VND/liter;
+ E10 RON 95-III gasoline: 850 VND/liter
+ E15 RON 92-II gasoline: 850 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 650 VND/liter.
+ Diesel oil 0.05S-II: 900 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 increases by about 200 VND/liter
- E5 RON 92 - II gasoline increased by about 200 VND/liter;
- Diesel oil increased by about 180 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.
