Gasoline price today October 4: Continue to increase sharply

World oil prices today

World oil prices increased across the board in the trading session on October 4 (Vietnam time). At 9:54 a.m., WTI crude oil was at $73.83/barrel, up $0.13/barrel, or 0.18%. WTI crude oil closed the previous trading session at $73.71/barrel and opened today's session at $73.94/barrel.

Brent crude oil was at $77.73 a barrel, up $0.11 a barrel, or 0.14 percent. Brent crude oil closed the previous session at $77.62 a barrel and opened today at $77.73 a barrel.

Thus, world oil prices are on a very strong upward trend. At the close of yesterday's trading session (October 3), oil prices increased by over 5%, and the upward trend continued to be maintained in this morning's session (October 4).

According to Reuters, the market is concerned about the possibility that Israel could attack oil infrastructure in Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), raising concerns that oil supplies will be affected.

Information limiting the rise in oil prices was that US oil inventories increased by 3.9 million barrels to 417 million barrels, contrary to the American Petroleum Institute's estimate of a decrease of 1.5 million barrels; gasoline inventories increased by 1.1 million barrels, and distillate inventories decreased by 1.3 million barrels.

Domestic gasoline prices today

On October 4, 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 3. Accordingly, gasoline and oil prices were adjusted down simultaneously. The price of E5 RON 92 gasoline decreased the most, up to 770 VND/liter. Next was RON 95-III gasoline, down 715 VND/liter. Oil prices decreased less, with diesel down 105 VND/liter, kerosene down 222 VND/liter, and mazut down 354 VND/kg. Thus, after 2 consecutive price increases, gasoline prices have turned down.

Gasoline discount today

Discount prices of petroleum products today, October 4, at some domestic petroleum dealers are as follows:

PV OIl discounts on October 4 as follows: Oil discount: 850 VND/liter; RON 95 - III gasoline: 650 VND/liter; E5 gasoline: 550 VND/liter.

Tu Luc Petroleum discounts on October 4 as follows: Oil discount: 800 VND/liter; RON 95 - III gasoline: 600 VND/liter; E5 gasoline: 500 VND/liter.

MIPEC gasoline discount on October 4: RON 95 - III discount: 400 VND/liter; E5 gasoline: 300 VND/liter; oil: 1,000 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 increase sharply.

Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 19 times and decreased 20 times. Oil prices have increased 17 times and decreased 22 times.