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 67.02 USD/barrel last week, increasing sharply to 70.70 USD/barrel this weekend. Overall, WTI crude oil increased by 3.68 USD/barrel last week, equivalent to an increase of 5.5% compared to the previous week.
Brent crude oil was at $71.04/barrel last week, up to $75.17/barrel this weekend. Overall, Brent crude oil increased by $4.13/barrel last week, up 5.8% compared to the previous week.
Thus, world oil prices increased sharply last week after a sharp decline the previous week. According to analysts, the market's attention has now shifted to growing concerns about the escalation of the conflict in Ukraine. Russia is the world's second largest crude oil exporter after Saudi Arabia, so a major disruption there could affect global supplies.
On the demand side, China, the world’s largest oil importer, announced policy measures this week to boost trade, including supporting energy imports, amid concerns the US will impose high tariffs on Chinese imports.
Domestic gasoline prices today
On November 24, 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 - Industry and Trade in the price management session on the afternoon of November 21. Accordingly, most gasoline and oil products decreased simultaneously. The price of E5 RON 92 gasoline decreased the most, by 109 VND/liter. RON 95-III gasoline decreased by 79 VND/liter, diesel oil decreased by 64 VND/liter, kerosene decreased by 67 VND/liter. Only fuel oil increased by 5 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, November 24, at some domestic petroleum dealers are as follows:
PVOIL discounts on November 24 as follows: Diesel discount (0.005S-V): 950 VND/liter; Diesel (0.001S-V): 900; RON 95 - III gasoline: 850 VND/liter; E5 gasoline: 850 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 24 as follows: Diesel discount (0.005S-V): 900 VND/liter; Diesel discount (0.001S-V): 850; RON 95 - III gasoline: 800 VND/liter; E5 gasoline: 800 VND/liter.
MIPEC gasoline discount on November 24: RON 95 - III discount: 800 VND/liter; E5 gasoline: 800 VND/liter; oil: 1,000 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. The increase is expected to be about 300 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 21 times and decreased 25 times. Oil prices have increased 20 times and decreased 26 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.
