World oil prices today
World oil prices fell across the board on November 25 (Vietnam time). At 11:11 a.m., WTI crude oil was at $71.06 per barrel, down $0.18 per barrel, or 0.25%. WTI crude oil closed the previous trading session at $71.24 per barrel and opened today's session at $71.15 per barrel.
Brent crude oil was at $74.45 a barrel, down $0.18 a barrel, or 0.24 percent. Brent crude oil closed the previous session at $74.63 a barrel and opened today at $74.51 a barrel.
Thus, after two consecutive strong increases last weekend, world oil prices in the morning trading session of the first week turned to decrease.
Oil prices rose after reports that crude production at Norway's Johan Sverdrup oil field was halted due to a power outage, and output at Kazakhstan's largest oil field fell by approximately 30% due to repairs, Reuters reported. In addition, heightened geopolitical risks following flare-ups by both Ukraine and Russia also supported oil prices.
Putting pressure on oil prices is the strong rise of the US dollar to 107, the partial restoration of production at the Johan Sverdrup field, and the increase in US oil inventories.
This week, the Russia-Ukraine conflict and developments in the Middle East, data on US consumer confidence, and the core personal consumption expenditure (PCE) report - one of the US Federal Reserve's (Fed) preferred inflation measures that reveals the Fed's interest rate easing cycle - will be factors affecting the increase and decrease of oil prices.
Domestic gasoline prices today
On November 25, 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 25, at some domestic petroleum dealers are as follows:
PVOIL discounts on November 25 as follows: Diesel discount (0.005S-V): 950 VND/liter; Diesel discount (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 25 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 25: 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 around 400-500 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.
