World oil prices today
World oil prices increased simultaneously in the trading session on November 5 (Vietnam time). At 10:42 am, WTI crude oil was at 71.56 USD/barrel, up 0.09 USD/barrel, equivalent to an increase of 0.13%. WTI crude oil closed the previous trading session at 71.74 USD/barrel, opening today's session at 71.62 USD/barrel.
Brent crude oil was at $75.19 a barrel, up $0.11 a barrel, or 0.15 percent. Brent crude oil closed the previous session at $75.08 a barrel and opened today at $75.27 a barrel.
Thus, at the end of yesterday's trading session, world oil prices increased sharply by nearly 3%, following the decision of the Organization of the Petroleum Exporting Countries and its allies (OPEC +) to postpone the plan to increase production for a month, while investors also focused on the US presidential election.
Iran also announced plans to increase oil production by 250,000 barrels per day. Libya also reported that its oil production is approaching 1.5 million barrels per day after resolving its political crisis. These moves from major producers are having a major impact on global oil supplies.
Domestic gasoline prices today
On November 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 31. Accordingly, gasoline and oil prices were adjusted in opposite directions, with gasoline prices decreasing and oil prices increasing. E5 RON 92 gasoline prices decreased by VND284/liter, RON 95-III gasoline decreased by VND391/liter, diesel increased by VND91/liter, kerosene increased by VND263/liter, and fuel oil increased by VND232/kg.
Gasoline discount today
Discount prices of petroleum products today, November 5, at some domestic petroleum dealers:
PVOIL discounts on November 5 as follows: Oil discount: 750 VND/liter; RON 95 - III gasoline: 750 VND/liter; E5 gasoline: 750 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 5 as follows: Oil discount: 700 VND/liter; RON 95 - III gasoline: 700 VND/liter; E5 gasoline: 700 VND/liter.
MIPEC gasoline discount on November 5: RON 95 - III discount: 500 VND/liter; E5 gasoline: 500 VND/liter; oil: 600 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, when world oil prices are on the rise and continuously increasing in the last sessions of the week, it is forecasted that in the next price adjustment period, petroleum prices may increase.
Of which, gasoline price is forecast to increase by 300-400 VND/liter; oil price increases by 700-800 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 23 times. Oil prices have increased 19 times and decreased 24 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.
