World oil prices today
World gasoline and oil prices simultaneously fell sharply. At 6:00 am (Vietnam time), data from Trading Economics and Oilprice showed that oil prices plummeted, with a common decrease of more than 4 USD/barrel.
WTI oil prices fell nearly 4.2 USD/barrel, equivalent to 4.47%, to 89.6 USD/barrel. Meanwhile, Brent North Sea oil fell 4.25 USD/barrel, equivalent to 4.27%, to 95.3 USD/barrel. Both types of oil fell to their lowest level in more than a month.
On average in May to May 28, oil prices continued to record a sharp downward trend compared to the previous month. In which, WTI oil decreased by more than 10.2%, and Brent oil decreased by 8.67%.
According to analysts, the decline in oil prices stems from expectations that negotiations between the US and Iran are making certain progress. US Secretary of State Marco Rubio said that the two sides have recorded some progress towards a peace agreement. However, US President Donald Trump said that there are still many issues to be resolved, while Iranian media said that important disagreements have not been resolved.
In addition, the US also denied information published by Iranian state media about the two sides reaching a framework agreement to restore transportation through the Strait of Hormuz within a month and lift the naval blockade on Iranian ships. The Iranian side said that the management of traffic through this sea route will be undertaken by Tehran in coordination with Oman.
Analysts believe that the risk of widespread conflict is showing signs of cooling down, thereby reducing concerns about the possibility of global oil supply shortages. According to assessments, the fact that some Iranian military leaders assess the risk of a re-outbreak of war at a low level has strengthened market confidence in the prospect of reaching a peace agreement in the near future.
Transportation through the Strait of Hormuz is also gradually resuming. Sea transport data shows that a ship carrying oil products passed through the area on Wednesday, after two other crude oil tankers crossed the strait the day before. However, oil transportation in general remained limited.
Domestic gasoline prices today
On May 28, 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: 1,600 VND/liter;
+ Diesel oil 0.001S-V: 1,500 VND/liter at Duc Giang warehouse;
+ E10 gasoline: 2,550 VND/liter.
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse: Diesel Oil 0.05S: 2,100 VND/liter; RON 95 - III gasoline: 2,850 VND/liter.
+ Petec Warehouse, Dinh Vu: Diesel Oil 0.05S: 1,950 VND/liter; E10 gasoline: 2,750
+ Bac Ninh Warehouse: Diesel Oil 0.05S: 1,950 VND/liter; RON 95 - III gasoline: 2,750 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 gasoline reduced by about 1,800 VND/liter;
- RON 95 - III gasoline reduced by about 2,000 VND/liter;
- E5 RON 92 - II gasoline reduced by about 1,500 VND/liter;
- Diesel oil decreased by about 1,400 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.
