World oil prices today
World gasoline and oil prices are showing strong fluctuations. At the end of the first trading session of the week, WTI and Brent oil prices increased by 5.5% and 4.2% respectively.
By this morning's session, both oil commodities simultaneously turned down. At 7:39 am (Vietnam time), WTI oil price was at 91.85 USD/barrel, down 0.31 USD/barrel, equivalent to a decrease of 0.34%. WTI oil closed the previous session at 92.16 USD/barrel and opened today's session at 92.54 USD/barrel.
Brent oil price was at 94.85 USD/barrel, down 0.59 USD/barrel, equivalent to a decrease of 0.62%. Brent oil closed the previous session at 95.44 USD/barrel and opened today's session at 95.45 USD/barrel.
Despite a sharp increase in the first session of the week, for the whole month of May, oil prices still fell from 17-19%, marking the strongest monthly decrease since March 2020. The main reason comes from expectations that the US and Iran may move closer to an agreement, thereby easing concerns about global energy supply.
However, by early June, the developments were not as expected. According to analysts, Iran has stopped indirect negotiations with Washington and is planning with allies to completely blockade the Strait of Hormuz - the lifeline of the world oil market. This move raises the risk of disrupting oil supplies and affecting many other strategic shipping routes.
Tensions in the Middle East continue to escalate as the US and Iran continuously take retaliatory actions against each other. At the same time, Israel also asked the military to go deeper into Lebanon in the conflict with Iranian-backed Hezbollah forces.
The rise in oil prices somewhat cooled down after US President Donald Trump said he had not grasped information about the stalled negotiations. He also revealed that he had contacted Hezbollah through intermediaries and received a commitment that this force would not carry out attacks on Israel.
However, the escalating developments in the Strait of Hormuz are still casting a shadow over the prospect of soon reaching a peaceful solution to the current crisis, in the context that transportation through this important maritime route is almost paralyzed.
Besides concerns about supply, economic data released last weekend showed that China's manufacturing activity is slowing down, increasing concerns that the world's second largest economy is losing growth momentum, which could negatively affect global oil consumption demand.
Domestic gasoline prices today
On June 2nd, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The retail price of domestic gasoline and oil mentioned above was adjusted by the inter-Ministry of Industry and Trade - Finance from 3 pm on May 28. Accordingly, the price of E5RON92 gasoline decreased by 1,082 VND/liter; RON95 gasoline decreased by 1,395 VND/liter; diesel oil 0.05S decreased by 1,110 VND/liter; mazut oil decreased by 1,041 VND/kg.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1,250 VND/liter;
+ Diesel oil 0.001S-V: 950 VND/liter.
+ E10 gasoline: 1,300 VND/liter
+ E5 RON 95 - II gasoline: 1,300 VND/liter
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse, Hai Phong: Diesel Oil 0.05S: 1,500 VND/liter; RON 95 - III gasoline: 1,650 VND/liter.
+ Nghi Son Warehouse: Diesel Oil 0.05S: 1,400 VND/liter; RON 95 - III gasoline: 1,650 VND/liter.
+ Petec Warehouse, Dinh Vu: Diesel Oil 0.05S: 1,250 VND/liter; E10 gasoline: 1,400 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ RON 95 - III gasoline: 1,200 VND/liter.
+ Diesel oil 0.05S-II: 1,400 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.
