World oil prices today
World gasoline and oil prices have just recorded a strong increase session, returning to the highest level in about 5 weeks. At the end of yesterday's trading session (September 1), WTI and Brent oil prices increased by 5.2% and 4.6% respectively.
By this morning's session, both oil commodities continued to rise. At 7:05 am (Vietnam time), WTI oil price was at 91.05 USD/barrel, up 0.83 USD/barrel, equivalent to an increase of 0.92%. WTI oil price closed the previous trading session at 90.22 USD/barrel, and opened today's session at 90.72 USD/barrel.
Brent oil was at 95.58 USD/barrel, up 0.38 USD/barrel, equivalent to an increase of 0.40%. Brent oil closed the previous trading session at 95.20 USD/barrel, and opened today's session at 95.24 USD/barrel.
World oil prices rose sharply as investors fear energy supplies from the Middle East could continue to be disrupted after fighting between the US and Iran resumed.
The US has launched new airstrikes targeting targets in Iran, reducing hopes that last weekend's military confrontation was just a temporary development. The new moves increase concerns that the conflict between the two countries may continue to escalate.
Meanwhile, Tehran still maintains a tough stance, warning it will prevent oil exports from the Gulf region. The statement was made despite US President Donald Trump's warning that Washington would respond "strongly" to Iran's new attacks.
The new fighting increases concerns about prolonged disruptions to energy flows through the Strait of Hormuz.
Not only is crude oil supply facing the risk of disruption, operations at many oil refineries around the world, especially in the Middle East and Russia, are also affected, pushing diesel prices up sharply.
The market is currently awaiting weekly oil inventory reports from the American Petroleum Institute (API) and the US Energy Information Administration (EIA) to have more signals about supply and demand developments.
Domestic gasoline prices today
On September 2nd, 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 August 27.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1,050 VND/liter;
+ Diesel oil 0.001S - V: 1,050 VND/liter;
+ E10 RON 95-III gasoline: 300 VND/liter
+ E15 RON 92-II gasoline: 300 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 1,000 VND/liter.
+ Diesel oil 0.05S-II: 1,900 VND/liter.
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 decrease.
In which:
- E10 gasoline reduced by about 0-50 VND/liter
- E5 RON 92 - II gasoline reduced by about 0-50 VND/liter;
- Diesel oil decreased by about 1,500 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.
