World oil price today
World oil prices today fell sharply. At 11:24 (Vietnam time), WTI crude oil was at 69.99 USD/barrel, down 0.36 USD/barrel, equivalent to a decrease of 0.51%. WTI crude oil closed the previous trading session at 70.35 USD/barrel, opening today's session at 70.12 USD/barrel.
Brent oil was at 73.19 USD/barrel, down 0.38 USD/barrel, equivalent to a decrease of 0.52%. Brent oil closed the previous trading session at 73.57 USD/barrel and opened today's session at 73.31 USD/barrel.
World oil prices have fluctuated strongly in recent trading sessions. After a series of deep declines before, oil prices had a recovery session on February 27, with Brent and WTI crude oil increasing by 2.1% and 2.5% respectively at the end of the session. However, the increase did not last long as gasoline prices suddenly dropped sharply in the morning session of February 28.
According to analysts, gasoline prices recovered in yesterday's session due to concerns about a shortage of supply after US President Donald Trump revoked the license to operate in Venezuela granted to US Chevron Group.
Oil prices are also supported by the fact that OPEC+ is debating whether to increase oil production in April as planned or freeze production as members are struggling to predict the global supply picture after new US sanctions on Venezuela, Iran and Russia.
Pressuring oil prices is the tariff policies of US President Donald Trump that could spark a trade war and hinder economic growth.
Domestic gasoline prices today
On February 28, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities are applying) are as follows:
The above domestic retail price of gasoline and oil was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of February 27, 2025. Accordingly, E5 RON 92 gasoline price decreased by 197 VND/liter, RON 95-III gasoline decreased by 19 VND/liter, kerosene decreased by 178 VND/liter, diesel decreased by 106 VND/liter. Only mazut oil increased by 19 VND/kg.
Today's gasoline discounts
The discount prices of gasoline products today, February 28, at some domestic gasoline trading enterprises are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,550 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,350 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 1,400 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,200 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,300 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount 0.05S-II: 1,550 VND/liter; Diesel 0.001S-V: 1,300; RON 95 - III gasoline: 1,350; E5 gasoline: 1,300 VND/liter.
MIPEC Petroleum: RON 95 - III Petroleum Discount: 1,300 VND/liter; E5 Petroleum: 1,200 VND/liter; Diesel 0.05S-II: 1,550 VND/liter. Applicable to the Northern region.
Forecast of domestic gasoline prices in the coming 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 interim price management period, gasoline prices may decrease slightly. Of which, gasoline price is forecast to decrease by 400-600 VND/liter; oil price decreases by about 400-500 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles on gasoline prices HERE.
