World oil prices today
World oil prices increased today. At 10:15 (Vietnam time), WTI crude oil was at 73.33 USD/barrel, up 0.60 USD/barrel, equivalent to an increase of 0.82%. WTI crude oil closed the previous trading session at 72.73 USD/barrel, opening today's session at 73.17 USD/barrel.
Brent crude oil was at $76.32 a barrel, up $0.43 a barrel, or 0.57 percent. Brent crude oil closed the previous session at $75.89 a barrel and opened today at $76.08 a barrel.
Thus, the world oil price today increased sharply. At the end of yesterday's trading session (January 30), Brent and WTI oil prices increased by 0.4% and 0.2% respectively. In this morning's session, both oil products continued to increase sharply.
US President Donald Trump has threatened to impose a 25% tariff on Canadian and Mexican exports to the US as early as February 1 if the two countries do not stop the flow of fentanyl across the US border, analysts say. However, traders have already factored in Trump’s tariffs, and this is a major reason why crude oil prices are trading at current levels.
On the supply side, the latest US sanctions against Moscow are choking off crude oil exports from Russia’s western ports, with February exports expected to fall 8% from January’s plan.
Notably, on January 29, the US Federal Reserve (Fed) decided to keep interest rates unchanged and did not provide details on when it planned to lower borrowing costs.
Domestic gasoline prices today
On January 31, 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 31, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 2,050 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,400 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 1,900 VND, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,250 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 will decrease by about 700-800 VND/liter.
Today's gasoline prices are for reference only and may change according to market conditions.
See more articles about gasoline prices HERE.
