World oil prices today
World gasoline and oil prices fluctuated sharply, at the end of yesterday's trading session (May 4), WTI and Brent oil prices increased by 4.4% and 5.8% respectively. This is the strongest increase in many weeks, taking place in the context of escalating tensions between Iran and the US.
By this morning's session, both oil commodities simultaneously turned down. At 8:03 am (Vietnam time), WTI oil price was at 104.92 USD/barrel, down 1.50 USD/barrel, equivalent to a decrease of 1.41%. WTI oil price closed the previous trading session at 106.42 USD/barrel, opening today's session at 105.10 USD/barrel.
Brent oil price was at 113.81 USD/barrel, down 0.01 USD/barrel, equivalent to a decrease of 0.01%. Brent oil price closed the previous trading session at 113.82 USD/barrel, opening today's session at 113.83 USD/barrel.
According to analysts, oil prices rose nearly 6% in Monday's trading session, as Iran increased attacks targeting the United Arab Emirates (UAE) and ships operating in the Gulf in the past 24 hours. This is considered the most serious escalation since the ceasefire agreement between the US and Iran took effect in early April.
Iran has deployed a series of military operations targeting the UAE and commercial ships in the area. A major UAE oil port caught fire after a drone attack, while many ships were attacked while passing through the Strait of Hormuz. This development shows that tensions are rising sharply again, breaking the previous "fragile ceasefire" state.
Energy experts warn that if transportation through the Strait of Hormuz is not soon safely restored, oil prices may remain above the threshold of 100 USD/barrel in the near future.
Meanwhile, supply is showing signs of being adjusted to cool down the market. OPEC+ announced that it will increase production by an additional 188,000 barrels/day in June, marking the third consecutive month of increase. However, analysts believe that this increase may not completely compensate for the risk of supply disruption from the Middle East if the conflict continues to escalate.
Domestic gasoline prices today
On May 5, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above-mentioned domestic retail gasoline and oil prices were adjusted by the inter-ministry of Industry and Trade - Finance from 3 pm on April 29.
Gasoline and oil discount today
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse: Diesel Oil 0.05S: 800 VND/liter; Gasoline RON 95 - III: 500 VND/liter.
+ Petec Warehouse, Dinh Vu: Diesel Oil 0.05S: 800 VND/liter.
+ Bac Ninh Warehouse: Diesel Oil 0.05S: 650 VND/liter; Gasoline RON 95 - III: 350 VND/liter.
+ Nghi Son Warehouse: Diesel Oil 0.05S: 800 VND/liter; Gasoline RON 95 - III: 500 VND/liter.
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1,000 VND/liter;
+ Diesel oil 0.001S-V: 500 VND/liter;
+ RON 95 - III gasoline: 650 VND/liter;
+ E5 gasoline: 650 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ RON 95 - III gasoline: 600 VND/liter.
+ Diesel oil 0.05S-II: 650 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.
