Gasoline and oil prices today, July 24: Simultaneously decrease

World oil prices today

World gasoline and oil prices continue to increase. At the end of yesterday's trading session (July 23), WTI and Brent oil prices increased by 6.2% and 7% respectively. The strong increase brought the prices of the two oils to the highest closing level since May 22 and June 4.

By this morning's session, both oil items simultaneously decreased. At 8:08 am (Vietnam time), WTI oil price was at 91.57 USD/barrel, down 0.62 USD/barrel, equivalent to a decrease of 0.67%. WTI oil price closed the previous trading session at 92.19 USD/barrel, and opened today's session at 92.50 USD/barrel.

Brent oil was at 100 USD/barrel, down 0.52 USD/barrel, equivalent to a decrease of 0.52%. WTI oil closed the previous trading session at 100.54 USD/barrel, and opened today's session at 100.56 USD/barrel.

World oil prices rose sharply at the closing of Thursday's trading session, after Houthi forces in Yemen announced they had attacked two Saudi Arabian oil tankers in the Red Sea. The incident increased disruptions to global oil supplies amid transportation through the Strait of Hormuz almost stalled.

Observers believe that if the situation in the Strait of Hormuz continues to escalate, sea transport and the global energy supply chain may face more pressure, in the context that this is still one of the most important strategic shipping routes in the world.

Domestic gasoline prices today

On July 24, 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 July 23.

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 continue to increase.