World oil prices today
World gasoline and oil prices have just recorded a deep decrease. At the end of the first trading session of the week, WTI and Brent oil prices decreased by 6.5% and 7% respectively.
However, by the morning of May 26, the market had recovered slightly. At 6:55 am (Vietnam time), Brent oil price anchored at 93.65 USD/barrel, while WTI oil price slightly increased to 91 USD/barrel.
Previously, WTI oil closed the session at 90.31 USD/barrel and opened this morning's session at 90.93 USD/barrel. Brent oil closed the previous session at 93.65 USD/barrel and opened the new session at 94.46 USD/barrel.
According to analysts, oil prices fell sharply amid the prospect of reaching an agreement between the US and Iran to end the three-month conflict becoming clearer.
The two sides said they had made some progress in the drafting of the memorandum, under which the conflict would be suspended and the negotiators would have 60 more days to reach a final agreement.
Experts believe that although the agreement has not been completed, the market is expecting oil to soon be circulated again through the Strait of Hormuz.
However, the market remains cautious, saying that in the past few months, negotiations have repeatedly moved closer to an agreement, but ultimately broke down in the final details, causing the Strait of Hormuz to continue to be blockaded.
Even if a peace agreement is reached, experts say it will take months for oil flows through the Strait of Hormuz to return to normal, as many oil and gas infrastructures have been damaged and need time to repair.
In addition, the shortage of supply of about 10-11 million barrels of oil/day will not be resolved soon. The market is likely to still depend on oil inventories until crude oil production in the Middle East is fully restored.
Domestic gasoline prices today
On May 26, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above-mentioned domestic retail gasoline and oil prices were adjusted by the inter-ministry of Industry and Trade - Finance from 3 pm on May 21.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 800 VND/liter;
+ Diesel oil 0.001S-V: 800 VND/liter at Duc Giang warehouse;
+ E10 gasoline: 1,900 VND/liter.
- Hoang Trong General Trading Co., Ltd.:
+ Diesel oil price 0.01S: 1,000 VND/liter;
+ RON 95 - III gasoline price: 1,900 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, domestic gasoline and oil prices will fluctuate according to the world gasoline and oil situation. According to current market developments, it is predicted that in the next price adjustment period, retail gasoline and oil prices may decrease sharply.
In which:
- E10 RON 92 - III gasoline reduced by about 1,600 VND/liter;
- RON 95 - III gasoline reduced by about 1,800 VND/liter;
- E5 RON 92 - II gasoline reduced by about 1,300 VND/liter;
- Diesel oil decreased by about 600 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.
