World oil prices today
In the past week, world gasoline and oil prices simultaneously increased sharply. WTI crude oil increased from 82.49 USD/barrel at the end of last week to 85.15 USD/barrel at the end of this week. For the whole week, WTI oil prices increased by 2.66 USD/barrel, equivalent to about 3.2% compared to the end of last week.
Brent oil increased from 88.10 USD/barrel at the end of last week to 96.78 USD/barrel at the end of this week. For the whole week, Brent oil prices increased by 8.68 USD/barrel, equivalent to about 9.9% compared to the end of last week.
In the past week, Brent and WTI oil prices both increased sharply in the context of the US and Iran continuously launching missiles to attack each other, ship traffic through the Strait of Hormuz fell to a very low level, while Houthi forces in Yemen launched attacks targeting transport activities in the Red Sea.
According to AFP, on July 25 (local time), Houthi forces announced that they had launched a missile attack on the city of Jizan, southern Saudi Arabia.
The statement was made after a coalition led by Saudi Arabia announced on July 24 that it had attacked Houthi facilities, destroying targets believed to threaten maritime operations. This move was in response to previous Houthi attacks on ships in the Red Sea.
The above developments increase concerns about disruptions to global oil supplies, in the context of transportation through the Strait of Hormuz being almost stalled.
On July 25, the US did not announce any further attacks on Iran, after 13 consecutive nights of airstrikes.
US President Donald Trump said Washington has not yet made a decision on launching large-scale attacks on Iran, as Tehran is showing more goodwill in negotiations with the US.
Mr. Trump emphasized that Iran only has two options: reach an agreement or face higher-level airstrikes. The statement was made nearly two weeks after the US conducted airstrikes that disrupted the ceasefire agreement.
The conflict that Mr. Trump once predicted would last only 4-5 weeks has now entered its 5th month. The US President said it is not yet possible to determine which factors will be the limiting points for making a decision, while emphasizing that Iran's approach to the possibility of developing nuclear weapons is still a "red line".
Domestic gasoline prices today
On July 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 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.
In which:
- E10 gasoline increases by about 2,000 VND/liter
- E5 RON 92 - II gasoline increased by about 2,100 VND/liter;
- Diesel oil increased by about 2,500 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.
