World oil price today
World oil prices continue to fall sharply. At the end of yesterday's trading session (October 28), Brent and WTI oil prices both decreased by 1.9%.
By this morning's session, both oil products continued to decline. At 10:32, WTI crude oil price was at 60.05 USD/barrel, down 0.10 USD/barrel, equivalent to a decrease of 0.17%. WTI oil closed the previous trading session at 60.15 USD/barrel and opened today's session at 60.25 USD/barrel.
Brent oil was at 63.73 USD/barrel, down 0.10 USD/barrel, equivalent to a decrease of 0.16%. Brent oil closed the previous trading session at 63.83 USD/barrel and opened today's session at 63.88 USD/barrel.
According to analysts, OPEC+, including the Organization of the Petroleum Exporting Countries and its allies (including Russia), is considering the possibility of a slight increase in production in December. After years of cutting production to support oil prices, the organization has begun to reverse that trend since April this year. This raises questions about the reserve capacity of this organization.
Analysts believe that OPEC+'s increase in production could help offset the decline in Russian oil after US sanctions.
Domestic gasoline prices today
On October 29, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 are as follows:
The above domestic retail price of gasoline and oil was adjusted by the Ministry of Industry and Trade - Ministry of Finance from 3:00 p.m. on October 23.
Accordingly, gasoline prices have decreased simultaneously. Specifically, E5RON92 gasoline price decreased by 176 VND/liter, RON95-III gasoline decreased by 177 VND/liter, diesel decreased by 538 VND/liter, kerosene decreased by 291 VND/liter and mazut decreased by 273 VND/kg.
Today's gasoline discounts
The discount levels of gasoline products today, October 29, at some domestic gasoline trading enterprises are as follows:
Hoang Trong General Trading Company Limited: Hai Linh warehouse, Hai Phong: Diesel 0.05S - II: 350 VND/liter; RON 95 - III gasoline: 400 VND/liter; Bac Ninh warehouse: Diesel 0.05S - II: 200 VND/liter; RON 95 - III gasoline: 250 VND/liter; Nghi Son warehouse: Diesel 0.05S - II: 400 VND/liter, RON 95 - III gasoline: 450 VND/liter.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 300 VND/liter; Diesel 0.001S-V: 200 VND/liter; RON 95 - III gasoline: 300 VND/liter; E5 gasoline: 300 VND/liter.
MIPEC Petroleum: RON 95 - III Petroleum Discount: 300 VND/liter; Diesel 0.05S-II: 300 VND/liter; Diesel 0.05S: 350 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 next price adjustment period, retail prices of gasoline may increase sharply.
Of which, RON 95 - III gasoline price is forecast to increase by about 760 VND/liter; E5 RON 92 - II gasoline increases by about 700 VND/liter; Diesel increases by about 1,370 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.
