World oil prices today
World oil prices fell across the board today. At 10:52 a.m. (Vietnam time), WTI crude oil was at 72.47 USD/barrel, down 0.23 USD/barrel, or 0.32%. WTI crude oil closed the previous trading session at 72.70 USD/barrel and opened today's session at 72.76 USD/barrel.
Brent crude oil was at 75.85 USD/barrel, down 0.335 USD, or 0.46 percent. Brent crude oil closed the previous session at $76.20 a barrel and opened today at 76.21 USD/barrel.
Thus, world oil prices continued to decline sharply. At the end of yesterday's trading session (February 4), Brent and WTI crude oil fell 0.63% and 0.32%, respectively. The sharp decline continued in this morning's session.
According to analysts, oil prices were under pressure from the beginning of the session when the new 10% US tax on imports from China took effect from February 4, after which China imposed retaliatory tariffs. Even in the February 4 session, WTI oil prices at one point fell by more than 3% to the lowest level since late December 2024.
Ongoing trade tensions between the US and China could reduce demand for oil, putting further pressure on oil prices.
Regarding US oil inventories, the Petroleum Institute said that in the week ending January 24, oil inventories increased by 5.025 million barrels, while gasoline inventories also increased sharply to 5.426 million barrels.
Domestic gasoline prices today
On February 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 price of gasoline and oil was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of February 1, 2025. Accordingly, all gasoline and oil products decreased simultaneously.
The price of E5 RON 92 gasoline decreased by 201 VND/liter, RON 95-III gasoline decreased by 140 VND/liter, diesel oil decreased by 948 VND/liter, kerosene decreased by 671 VND/liter, and fuel oil decreased by 250 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, February 5, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,250 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,250 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 1,100 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,100 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,000 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 1,200 VND/liter; Diesel 0.001S-V: 1,100; RON 95 - III gasoline: 1,200 VND/liter; E5 gasoline: 1,100 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 1,250 VND/liter; E5 gasoline: 900 VND/liter; Diesel 0.05S-II: 1,400 VND/liter. Applicable to the Northern region.
Forecast of domestic gasoline prices next period
According to a representative of a petroleum trading enterprise, the domestic petroleum price will fluctuate according to the world petroleum situation.
Of which, the price of E5 RON 92 gasoline increased by about 50-70 VND/liter; RON 95-III gasoline decreased by about 80-100 VND/liter; diesel oil decreased by about 160-200 VND/liter.
Today's gasoline prices are for reference only and may change according to market conditions.
See more articles about gasoline prices HERE.
