World oil prices today
At the end of the trading week, WTI crude oil was at 70.60 USD/barrel last week, increasing to 73.96 USD/barrel this weekend. Overall, WTI crude oil increased by 3.36 USD/barrel last week, equivalent to an increase of 4.8% compared to the previous week.
Brent crude oil was at $74.17/barrel last week, up to $76.51/barrel this weekend. Overall, Brent crude oil increased by $2.34/barrel last week, up 3.2% compared to the previous week.
Thus, world oil prices have increased for two consecutive weeks. According to Reuters, world oil prices are supported by many factors. Among them, China - the world's leading oil importer - has continuously issued announcements to promote economic activities, stimulating the market to warm up again.
Oil prices were also supported by an expected increase in heating oil demand following forecasts of colder weather in some regions. Analysts said oil demand could benefit from cold temperatures across Europe and the United States.
Domestic gasoline prices today
On January 5, 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 2, 2025. Accordingly, the prices of all gasoline and oil products increased simultaneously. E5 RON 92 gasoline increased by VND 240/liter, RON 95-III gasoline increased by VND 199/liter, diesel increased by VND 125/liter, kerosene increased by VND 126/liter, and fuel oil increased by VND 129/kg.
Gasoline discount today
Discount prices of petroleum products today, January 5, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 800 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 750 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 650 VND, applied at Bac Ninh warehouse; RON 95 - III gasoline: 600 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 600 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 800 VND/liter; Diesel 0.001S-V: 700; RON 95 - III gasoline: 750 VND/liter; E5 gasoline: 700 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 800 VND/liter; E5 gasoline: 800 VND/liter; Diesel 0.05S-II: 950 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 will continue to increase. Of which, gasoline prices will increase by about 250-300 VND/liter; oil prices will increase by about 350-400 VND/liter.
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.
