World oil prices today
World oil prices increased sharply in the trading session on October 5 (Vietnam time). At the end of the trading session, WTI crude oil was at 74.38 USD/barrel, up 0.67 USD/barrel, equivalent to an increase of 0.91%. WTI crude oil closed the previous trading session at 73.71 USD/barrel, opening today's session at 73.95 USD/barrel.
Brent crude oil was at $78.14 a barrel, up $0.52 a barrel, or 0.67 percent. Brent crude oil closed the previous session at $77.62 a barrel and opened today at $77.63 a barrel.
Thus, world oil prices are on a very strong upward trend with 5 consecutive price increases this week.
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.
Israel has vowed to attack Iran after a barrage of 180 missiles hit Israel, prompting oil analysts to warn clients about the potential fallout from a wider Middle East conflict.
US President Joe Biden has discouraged Israel from targeting Iranian oil facilities. The White House chief said that if he were in Israel's position, he would consider alternatives to attacking the oil fields.
Domestic gasoline prices today
On October 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 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 5, at some domestic petroleum dealers are as follows:
PV OIl discounts on October 5 as follows: Oil discount: 450 VND/liter; RON 95 - III gasoline: 350 VND/liter; E5 gasoline: 350 VND/liter.
Tu Luc Petroleum discounts on October 5 as follows: Oil discount: 400 VND/liter; RON 95 - III gasoline: 300 VND/liter; E5 gasoline: 300 VND/liter.
MIPEC gasoline discount on October 5: RON 95 - III discount: 350 VND/liter; E5 gasoline: 300 VND/liter; oil: 550 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.
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.
