World oil prices today
World gasoline and oil prices simultaneously fell sharply. At 7:58 AM, WTI oil price was at 84.78 USD/barrel, down 4.53 USD/barrel, equivalent to a decrease of 5.07%. WTI oil price closed the previous trading session at 89.31 USD/barrel, and opened today's session at 86 USD/barrel.
Brent oil was at 87.67 USD/barrel, down 4.01 USD/barrel, equivalent to a decrease of 4.37%. Brent oil closed the previous trading session at 91.68 USD/barrel, and opened today's session at 86.52 USD/barrel.
Gasoline and oil prices in the morning session of July 27 suddenly plummeted right when opening the first trading session of the new week, with oil prices falling from 5-6 USD/barrel. This development appeared after US President Donald Trump announced the cessation of attacks after 13 consecutive days.
Iran also said it would stop its attacks as long as the US does the same.
The above move increases expectations for a diplomatic solution that could help cool down the conflict in the Middle East.
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.
Notably, Iran still earned tens of billions of USD from oil sales during the conflict.
On July 25 (local time), the Iranian Ministry of Oil said that the country had "sold 11.5 billion USD of oil during the conflict and 6.5 billion USD during the ceasefire", before the US-Iran ceasefire agreement collapsed.
According to the Iranian Ministry of Oil, this figure "accounts for more than 60% of the oil revenue forecast in this year's budget in the context of the crisis".
Previously, at the end of June, the Speaker of the Iranian Parliament, who is also the head of the country's negotiating delegation, Mr. Mohammad Bagher Ghalibaf, said that Iran could not export any oil during the US blockade of its ports.
Domestic gasoline prices today
On July 27, 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 1,300 VND/liter
- E5 RON 92 - II gasoline increased by about 1,600 VND/liter;
- Diesel oil increased by about 2,200 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.
