World oil prices today
World gasoline and oil prices continued to fall sharply. At the end of the trading session on August 4, WTI oil prices decreased by 4.57 USD, equivalent to 5.7%, to 75.77 USD/barrel.
Brent oil fell 4.41 USD, or 5.3%, to 79.36 USD/barrel. This is the lowest closing price in about 4 weeks (since July 10) for oil products.
World oil prices fell sharply after US and Qatari officials sent positive signals about the negotiation process with Iran, raising expectations that a diplomatic solution could be reached soon, thereby unblocking oil transportation through the Strait of Hormuz.
US President Donald Trump said on August 3 that Washington and Tehran had begun new negotiations, despite the Iranian Foreign Ministry previously deniving any negotiations with the US.
We are negotiating. And we are negotiating at the request of Iran, with the backing of Saudi Arabia, the United Arab Emirates (UAE) and especially Qatar," Trump said.
According to the US President, the content of the negotiations focuses on reopening the Strait of Hormuz and Iran's nuclear program. He said Washington wants the Strait of Hormuz to be reopened "immediately tomorrow", considering this as the first step of the negotiation process, before moving on to discussing the nuclear issue.
The Strait of Hormuz has become a bottleneck in diplomatic efforts between the US and Iran for months. After the attacks by the US and Israel on Iran in late February, Tehran has in fact blockaded this strategic shipping route, which transports about 1/4 of the global oil traded by sea, increasing concerns about the risk of supply disruption and disruption in the energy market.
Domestic gasoline prices today
On August 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 domestic retail gasoline and oil prices are adjusted by Petrolimex according to the inter-ministry of Industry and Trade - Finance's management period from 3:00 PM on July 30th.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1,100 VND/liter;
+ E10 RON 95-III gasoline: 1,300 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 1,100 VND/liter.
+ Diesel oil 0.05S-II: 1,300 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, it is predicted that in the next price adjustment period, retail gasoline and oil prices may decrease.
In which:
- E10 gasoline reduced by about 900 VND/liter
- E5 RON 92 - II gasoline reduced by about 1,000 VND/liter;
- Diesel oil decreased by about 800 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.
