World oil prices today
World oil prices recorded a sharp decline last week. At the end of the trading week, WTI crude oil was at 70.33 USD/barrel last week, down to 68.64 USD/barrel this weekend. Overall, WTI crude oil fell by 1.69 USD/barrel last week, a decrease of 2.4% compared to the previous week.
Brent crude oil was at $74.72/barrel last week, down to $71.54/barrel this weekend. Overall, Brent crude oil fell $3.18/barrel last week, down 4.2% from the previous week.
Thus, after a sharp increase last week, world oil prices fell sharply last week. According to analysts, OPEC+ plans to increase oil supply from December, after a delay of two months. Meanwhile, Libya is about to reopen oil fields after resolving the political deadlock, which could put downward pressure on oil prices.
China remains concerned about oil demand despite economic stimulus measures. Oil prices could fall another 5% this week.
Domestic gasoline prices today
On September 29, 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 29, at some domestic petroleum dealers are as follows:
PV OIl discounts on September 29 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 29 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 29: 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
A representative of a petroleum business said that 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.
