World oil prices today
World oil prices fell sharply in today's trading session, September 27 (Vietnam time). At 9:48 a.m., WTI crude oil was at 67.38 USD/barrel, down 0.29 USD/barrel, or 0.43%. WTI crude oil closed the previous trading session at 67.67 USD/barrel and opened today's session at 67.51 USD/barrel.
Brent crude oil was at $70.78 a barrel, down $0.41 a barrel, or 0.44 percent. Brent crude oil closed the previous session at $71.09 a barrel and opened today at $70.88 a barrel.
In yesterday's trading session, September 26, oil prices increased slightly at the beginning of the session, then suddenly turned around and dropped sharply, by more than 2%. The sharp decline in oil prices continued in today's session due to the news of increased production by the Organization of the Petroleum Exporting Countries and its allies (OPEC+).
Reuters quoted OPEC+ sources as saying that the group will continue to increase oil production in December. Meanwhile, on September 26, the Financial Times reported that Saudi Arabia is preparing to abandon its unofficial crude oil price target of $100/barrel as the country prepares to increase production.
According to analysts, the sudden drop in oil prices is an "overreaction" to the news of increased production by OPEC+, because OPEC+ cut oil production to support oil prices.
Domestic gasoline prices today
On September 27, 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 - Ministry of Industry and Trade in the price management session on the afternoon of September 26. Accordingly, gasoline and oil prices were adjusted up. RON 95 gasoline increased by 750 VND/liter; E5 RON 92 gasoline increased by 680 VND/liter; diesel increased by 460 VND/liter; kerosene increased by 320 VND/liter; and fuel oil increased by 530 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, September 27, at some domestic petroleum dealers are as follows:
PV OIl discounts on September 27 as follows: Oil discount: 1,600 VND/liter; RON 95 - III gasoline: 1,500 VND/liter; E5 gasoline: 1,200 VND/liter.
Tu Luc Petroleum discounts on September 27 as follows: Oil discount: 1,550 VND/liter; RON 95 - III gasoline: 1,450 VND/liter; E5 gasoline: 1,200 VND/liter.
MIPEC gasoline discount on September 27: RON 95 - III discount: 1,200 VND/liter; E5 gasoline: 1,000 VND/liter; oil: 1,600 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 decrease sharply. Of which, gasoline may decrease by about 600-700 VND/liter; oil may decrease by about 300 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 19 times and decreased 19 times. Oil prices have increased 17 times and decreased 21 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.
