World oil prices today
World oil prices fell sharply today. At 10:44 (Vietnam time), WTI crude oil was at 72.65 USD/barrel, up slightly by 0.03 USD/barrel, equivalent to an increase of 0.04%. WTI crude oil closed the previous trading session at 72.62 USD/barrel, opening today's session at 73.01 USD/barrel.
Brent crude oil was at $75.57 a barrel, down $0.04 a barrel, or 0.05 percent. Brent crude oil closed the previous session at $75.61 a barrel and opened today at $75.77 a barrel.
Thus, world oil prices are on a sharp decline. At the close of yesterday's trading session (January 29), Brent and WTI oil prices fell 1.2% and 1.6%, respectively. By this morning's session, both oil products were trading around yesterday's closing level.
On January 28, the White House reaffirmed President Donald Trump's plan to impose a 25% tariff on imports from Canada and Mexico starting February 1.
Oil trading will remain choppy in the short term as investors grapple with tariff threats, sanctions on Russian energy flows and concerns about economic growth in major consuming nations, analysts say, so a more cautious approach is needed given the many uncertainties that prevail.
Meanwhile, the US Energy Information Administration (EIA) said that US crude oil inventories rose by 3.46 million barrels in the week ending January 24 as refinery imports fell for a third consecutive week. This increase was higher than the 3.19 million barrel increase expected by analysts.
Notably, on January 29, the US Federal Reserve (Fed) decided to keep interest rates unchanged and did not provide details on when it plans to lower borrowing costs.
Domestic gasoline prices today
On January 30, 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 - Industry and Trade in the price management session on the afternoon of January 23, 2025. Accordingly, gasoline and oil products increased and decreased in opposite directions.
E5 RON 92 gasoline price decreased by 158 VND/liter, RON 95-III gasoline decreased by 78 VND/liter, Diesel increased by 412 VND/liter, kerosene increased by 404 VND/liter, Mazut increased by 571 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, January 30, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,950 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: 1,800 VND, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,200 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,350 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 1,650 VND/liter; Diesel 0.001S-V: 1,600; RON 95 - III gasoline: 1,250 VND/liter; E5 gasoline: 1,250 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 1,250 VND/liter; E5 gasoline: 1,100 VND/liter; Diesel 0.05S-II: 1,750 VND/liter. Applicable to the Northern region.
Forecast of domestic gasoline prices next 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, petroleum prices may decrease.
Of which, gasoline price is forecast to decrease by about 200-300 VND/liter; oil price is forecast to decrease by about 700-800 VND/liter.
Previously, the Ministry of Industry and Trade announced the adjustment of gasoline price management time during the 2025 Lunar New Year.
The announcement clearly states: “The time for managing gasoline prices is carried out every Thursday. In case the price management time coincides with the Lunar New Year holiday, it will be carried out as follows: If Thursday falls on the last day of the lunar year (29th or 30th of Lunar New Year), the gasoline price management will be carried out on the preceding Wednesday. If Thursday is the 1st, 2nd or 3rd day of Tet, the time for managing gasoline prices will be carried out on the 4th day of Tet."
With this regulation, the next gasoline price adjustment period on the 2nd day of the Lunar New Year (January 30, 2025) will be moved to Saturday, February 1, 2025 (the 4th day of the Lunar New Year).
Today's gasoline prices are for reference only and may change according to market conditions.
See more articles about gasoline prices HERE.
