World oil prices today
World gasoline and oil prices fluctuated sharply. At the end of yesterday's trading session (June 2), WTI and Brent oil prices increased by 1.7% and 1.1% respectively.
By this morning's session, both oil commodities continued to rise. At 8:15 am (Vietnam time), WTI oil price was at 95 USD/barrel, up 1.24 USD/barrel, equivalent to an increase of 1.33%. WTI oil closed the previous session at 93.76 USD/barrel and opened today's session at 93.78 USD/barrel.
Brent oil price was at 97.13 USD/barrel, up 1.36 USD/barrel, equivalent to an increase of 1.42%. Brent oil closed the previous session at 95.77 USD/barrel and opened today's session at 95.79 USD/barrel.
According to analysts, more than three months after the US and Israel launched airstrikes against Iran, the conflict is still in a state of stalemate. The fragile ceasefire continues to be maintained, while the Strait of Hormuz is almost still blocked.
Since the outbreak of war, Iran has almost prevented most foreign ships from entering and leaving the Persian Gulf, disrupting about 20% of global oil and natural gas (LNG) supplies, thereby pushing energy prices up more than 50%. Conversely, the US also maintains blockade measures against Iranian ports.
Analysts believe that there are still many unpredictable factors in the developments of the conflict. However, the prospect of fully reopening the Strait of Hormuz is currently not more optimistic than a few months ago.
Meanwhile, the International Energy Agency (IEA) warned that global oil inventories could fall to a worrying level before the summer consumption peak if the current inventory decline continues.
According to analysts' estimates, energy companies have withdrawn about 4 million barrels of oil from stockpiles in the week ending May 29. If this figure is confirmed, this will be the sixth consecutive week that US crude oil inventories record a downward trend.
Domestic gasoline prices today
On June 3rd, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The retail price of domestic gasoline and oil mentioned above was adjusted by the inter-Ministry of Industry and Trade - Finance from 3 pm on May 28. Accordingly, the price of E5RON92 gasoline decreased by 1,082 VND/liter; RON95 gasoline decreased by 1,395 VND/liter; diesel oil 0.05S decreased by 1,110 VND/liter; mazut oil decreased by 1,041 VND/kg.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 890 VND/liter;
+ Diesel oil 0.001S-V: 600 VND/liter.
+ E10 RON 95-III gasoline: 1, 100 VND/liter
+ E5 RON 92 - II gasoline: 1,000 VND/liter
- Hoang Trong General Trading Co., Ltd.:
+ Petec warehouse, Dinh Vu: Diesel oil 0.05S: 1. 250 VND/liter; E10 RON 95-III gasoline: 1. 400 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 RON 95 - III gasoline: 1,000 VND/liter.
+ Diesel oil 0.05S-II: 1. 200 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, domestic gasoline and oil prices will fluctuate according to world prices. Although it increased sharply in the first 2 trading sessions of June, in general in May, world oil prices still decreased sharply by 17-19%, this is the strongest monthly decrease since March 2020.
It is predicted that in the next price adjustment period, domestic retail gasoline and oil prices may decrease sharply.
In which:
- E10 RON 95 - III gasoline reduced by about 1,400 VND/liter;
- E5 RON 92 - II gasoline reduced by about 1,500 VND/liter;
- Diesel oil decreased by about 1,000 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles about gasoline and oil prices HERE.
