World oil price today
After a series of consecutive deep declines, world oil prices reversed and increased in yesterday's trading session (October 29). At the end of the session on October 29, Brent and WTI oil prices increased by 0.6% and 0.8%, respectively.
By this morning's session, both oil products had turned to decrease. At 11:16, WTI crude oil prices were at 60.24 USD/barrel, down 0.24 USD/barrel, equivalent to a decrease of 0.41%. WTI oil closed the previous trading session at 60.48 USD/barrel and opened today's session at 60.39 USD/barrel.
Brent oil was at 64.10 USD/barrel, down 0.20 USD/barrel, equivalent to a decrease of 0.31%. Brent oil closed the previous trading session at 64.32 USD/barrel and opened today's session at 64.24 USD/barrel.
According to data just released by the US Energy Information Administration (EIA), last week, US crude oil, gasoline and distillate reserves all decreased more deeply than analysts expected. Accordingly, crude oil inventories decreased by nearly 7 million barrels, far exceeding the expected decrease of only 211,000 barrels.
This sharp decline has forced investors to reconsider their forecast that the oil market is heading towards a large supply glut, in the context of the OPEC+ group increasing production.
Domestic gasoline prices today
On October 30, 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 30, at some domestic gasoline trading enterprises are as follows:
Hoang Trong General Trading Company Limited: Hai Linh warehouse, Hai Phong: Diesel 0.05S - II: 400 VND/liter; RON 95 - III gasoline: 500 VND/liter; Bac Ninh warehouse: Diesel 0.05S - II: 250 VND/liter; RON 95 - III gasoline: Out of stock; Nghi Son warehouse: Diesel 0.05S - II: 450 VND/liter, RON 95 - III gasoline: 550 VND/liter.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 350 VND/liter; Diesel 0.001S-V: 200 VND/liter; RON 95 - III gasoline: 450 VND/liter; E5 gasoline: 400 VND/liter.
MIPEC Petroleum: RON 95 - III Petroleum Discount: 300 VND/liter; Diesel 0.05S-II: 300 VND/liter; Diesel 0.05S: 400 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 710 VND/liter; Diesel increases by about 1,310 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.
