World oil prices today
World gasoline and oil prices simultaneously fell sharply in the first trading session of the week (August 3rd). At the end of the session, WTI oil prices decreased by 4.33 USD, equivalent to 5.1%, to 80.34 USD/barrel.
Meanwhile, Brent oil prices fell 6.35 USD, or 7%, to 83.77 USD/barrel. This is the lowest closing price for both types of oil in about three weeks.
World oil prices fell sharply after US President Donald Trump announced the cancellation of plans to attack Iran, thereby easing concerns about the risk of supply disruption from the Middle East.
Mr. Trump said an agreement is being promoted, including the immediate, complete and comprehensive opening of the Strait of Hormuz, while ending the nuclear threat from Iran. However, he also emphasized that the postponement of military operations depends on the ability of the parties to reach an agreement soon.
This development helps tensions in the Middle East temporarily cool down, pulling oil prices down sharply and reducing concerns about inflation. The fact that the parties have not resumed military operations in recent days has also narrowed the "risk compensation" in the oil market.
Meanwhile, the Iranian Foreign Ministry said on August 3 that there is currently no negotiation with the US, but it is working with Oman on ensuring maritime operations through the Strait of Hormuz.
We are not currently negotiating with the US. Our negotiations are with Oman to ensure travel through the Strait of Hormuz," Iranian Foreign Ministry spokesman Esmaeil Baqaei said at a regular press conference.
Iran also said it is moving closer to an agreement with Oman on a new maritime route through the Strait of Hormuz. This information was released after a tanker reported an explosion in the area near the strait on August 2, showing that this strategic waterway route still contains many instabilities.
However, risks to global energy supplies have not been completely eliminated. The flow of ships through the Strait of Hormuz remains low, while Houthi attacks in the Red Sea continue to affect maritime transport activities.
Domestic gasoline prices today
On August 4, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above domestic retail gasoline and oil prices are adjusted by Petrolimex according to the inter-ministry of Industry and Trade - Finance's management period from 3:00 PM on July 30th.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 600 VND/liter;
+ E10 RON 95-III gasoline: 600 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 700 VND/liter.
+ Diesel oil 0.05S-II: 850 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, it is predicted that in the next price adjustment period, retail gasoline and oil prices may decrease.
In which:
- E10 gasoline reduced by about 300 VND/liter
- E5 RON 92 - II gasoline reduced by about 400 VND/liter;
- Diesel oil decreased by about 0-50 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.
