World oil prices today
World oil prices increased sharply in the trading session on October 31 (Vietnam time). At 11:09, WTI crude oil was at 69.06 USD/barrel, up 0.45 USD/barrel, equivalent to an increase of 0.66%. WTI crude oil closed the previous trading session at 68.61 USD/barrel, opening today's session at 68.98 USD/barrel.
Brent crude oil was at $72.65 a barrel, up $0.49 a barrel, or 0.68 percent. Brent crude oil closed the previous session at $72.16 a barrel and opened today at $72.68 a barrel.
Thus, at the end of yesterday's trading session (October 30), world oil prices increased by more than 2%, and the increase continued in this morning's session. According to analysts, world oil prices increased due to the impact of Middle East tensions between Israel - Iran, Lebanon, and new developments when North Korea sent troops to fight in Ukraine. However, new developments could ignite regional conflicts and cause tensions, causing oil prices to increase again.
Meanwhile, according to the US Energy Information Administration (EIA), US crude oil reserves from October 14-18 skyrocketed to 426 million barrels/week, higher than forecast, the actual increase was more than 270,000 barrels/week, putting pressure on oil prices, reducing concerns about sharp increases in oil prices in the following weeks, despite potential and dangerous conflicts from the Middle East.
Domestic gasoline prices today
On October 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 October 24. Accordingly, the price of E5 RON 92 gasoline decreased by 38 VND/liter, RON 95-III gasoline decreased by 68 VND/liter, diesel oil decreased by 264 VND/liter, kerosene decreased by 57 VND/liter. Only mazut oil increased by 139 VND/kg. Thus, this is the second consecutive price reduction of domestic gasoline prices.
Gasoline discount today
Discount prices of petroleum products today, October 31, at some domestic petroleum dealers:
PVOIL discounts on October 31 as follows: Oil discount: 1,250 VND/liter; RON 95 - III gasoline: 1,350 VND/liter; E5 gasoline: 1,250 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on October 31 as follows: Oil discount: 1,200 VND/liter; RON 95 - III gasoline: 1,300 VND/liter; E5 gasoline: 1,200 VND/liter.
MIPEC gasoline discount on October 31: RON 95 - III discount: 1,100 VND/liter; E5 gasoline: 1,000 VND/liter; oil: 1,100 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. It is forecasted that in the next price adjustment period, petroleum prices may be adjusted in opposite directions. In particular, gasoline prices are forecast to decrease by about 300-400 VND/liter; oil prices increase by about 100 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 22 times. Oil prices have increased 18 times and decreased 24 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.
